Company: PDCC
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001214659-25-013974
Chunk: 21

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-19
Form: 424B2
Chunk 21
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 be made by any method that is deemed to be an “at the market offering,” as
defined in Rule 415 under the Securities Act. There is no guarantee that there will be any sales of our common stock pursuant to this
prospectus supplement and the accompanying prospectus. Actual sales, if any, of our common stock under this prospectus supplement and
the accompanying prospectus may be less than as set forth on the cover page of this prospectus supplement depending on, among other things,
the market price of our common stock at the time of any such sale. As a result, the actual net proceeds we receive may be more or less
than the amount of net proceeds estimated in this prospectus supplement. However, the sales price per share of our common stock offered
by this prospectus supplement and the accompanying prospectus, less commissions payable under the Equity Distribution Agreement, will
not be less than the net asset value per share of our common stock at the time of such sale. Assuming the sale of $75 million of
common shares, as offered by this prospectus supplement and future prospectus supplements, we anticipate that our net proceeds from this offering will be approximately $73.0 million, after deducting the Placement
Agent’s commissions, at an estimated 2.0%, and estimated offering expenses payable by us.

We intend to use the proceeds from the sale of
shares of our common stock pursuant to this prospectus supplement to acquire investments in accordance with our investment objectives
and strategies described in this prospectus supplement and the accompanying prospectus, but may also use proceeds to make distributions
to our stockholders and for general working capital purposes. In addition, we may also use all or a portion of the net proceeds from the
sale of our securities to repay any preferred stock or outstanding indebtedness at the time of the offering, including any borrowings
from reverse repurchase agreements.

| S-13 |

We currently anticipate that it will generally
take approximately one to three months after the completion of any offering of securities to invest substantially all of the net proceeds
of this offering in our targeted investments, although the length of such period may vary depending on the availability of appropriate
investment opportunities consistent with our investment objectives and market conditions. We cannot assure you we will achieve our targeted
investment pace, which may negatively impact our returns. Until appropriate investments or other uses can be found, we will invest in
temporary investments, such as cash, cash equivalents, U.S. government securities, and other high-quality debt investments