Company: PDCC
Filing Date: 2025-07-18
Form Type: N-2
Source: 0001214659-25-010613
Chunk: 197

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-07-18
Form: N-2
Chunk 197
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 of Section 18 subject to the conditions under the rule as follows. We may change the election and
comply with the other provisions of Rule 18f-4 related to derivatives transactions at any time and without notice. To satisfy the limited
derivatives users exception, we have adopted and implemented written policies and procedures reasonably designed to manage our derivatives
risk and limit our derivatives exposure in accordance with Rule 18f-4. Rule 18f-4 also permits us to enter into reverse repurchase agreements
or similar financing transactions notwithstanding the senior security provisions of the 1940 Act if we aggregate the amount of indebtedness
associated with our reverse repurchase agreements or similar financing transactions with the aggregate amount of any other senior securities
representing indebtedness when calculating our asset coverage ratios as discussed above or treat all such transactions as derivatives
transactions for all purposes under Rule 18f-4. However, these transactions may represent a form of economic leverage and will create
risks. The potential loss on such instruments may be substantial relative to the initial investment therein and compliance with Rule 18f-4
will not limit or offset losses on related positions.

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<div align='center'>PEARL DIVER CREDIT COMPANY INC.

Common Stock

PROSPECTUS [ ], 2025</div>

Until [ ], 2025 (25 days
after the date of this prospectus), federal securities laws may require all dealers that effect transactions in our common stock, whether
or not participating in this offering, to deliver a prospectus. This is in addition to the dealers’ obligation to deliver a prospectus
when acting as underwriter and with respect to their unsold allotments or subscriptions.

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The information in this Statement of Additional Information is not complete and may be changed. The Company may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This Statement of Additional Information is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

<div align='center'>SUBJECT TO COMPLETION,JULY 18, 2025

PEARL DIVER CREDIT COMPANY INC.

STATEMENT OF ADDITIONAL INFORMATION

[ ], 2025</div>

This
Statement of Additional Information (the “SAI”) provides additional information to the Prospectus for Pearl Diver Credit Company
Inc. (the “Company”) dated [ ],
2025 as it may