Company: PDCC
Filing Date: 2025-09-16
Form Type: N-2/A
Source: 0001214659-25-013826
Chunk: 197

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-16
Form: N-2/A
Chunk 197
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 our preferred stock would be redeemed by us prior to
such conversion. Our board of directors believes, however, that the closed-end structure is desirable, given our investment objectives
and policies. Investors should assume, therefore, that it is unlikely that the board of directors would vote to convert us to an open-end
management investment company. Stockholders of an open-end management investment company may require the open-end management investment
company to redeem their shares at any time (except in certain circumstances as authorized by or under the 1940 Act) at their NAV, less
such redemption charge, if any, as might be in effect at the time of a redemption. We would expect to pay all such redemption requests
in cash, but intends to reserve the right to pay redemption requests in a combination of cash or securities. If such partial payment in
securities were made, investors may incur brokerage costs in converting such securities to cash. If we were converted to an open-end fund,
it is likely that new shares of our common stock would be sold at NAV plus a sales load.

The Board may propose a conversion to an open-end
company based on its judgement as to the advisability of such action with respect to the best interests of the shareholders in light of
the market, trading, interest rate, and economic circumstances then prevailing. The Board may consider any such factors that it deems
material to its determination to propose a conversion to an open-end company.

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Repurchase of Shares and Other Discount Measures

In recognition of the possibility that shares
of our common stock might trade at a discount to the NAV of such shares and that any such discount may not be in the interest of the holders
of our common stock, the board of directors, in consultation with the Adviser, from time to time will review possible actions to reduce
any such discount, including open market repurchases and/or tender offers for shares our common stock. In this respect, if, after two
years from the date shares of our common stock are first listed on the NYSE, shares of our common stock trade at an average discount to
NAV of more than 7.5% based on the average daily closing stock price over any six month period, subject to (1) approval of the board of
directors, and (2) compliance with any applicable 1940 Act restrictions (including any applicable asset coverage requirement), and with
contractual obligations under any applicable debt financing, including any credit facilities which we may have at such time,