Company: PDCC
Filing Date: 2025-09-19
Form Type: 424B2
Source: 0001214659-25-013974
Chunk: 12

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-19
Form: 424B2
Chunk 12
---
 Net Investment Income” means interest income, dividend income, and any
other income (including any other fees, such as commitment, origination, structuring, diligence and consulting fees or other fees that
the Company receives from an investment) accrued during the calendar quarter, minus the Company’s operating expenses for the quarter
(including the base management fee and any interest expense and/or dividends paid on any issued and outstanding debt or preferred interests,
but excluding the incentive fee). See “The Adviser and the Administrator — Investment Advisory Agreement — Base Management Fee and Incentive Fee” in the accompanying prospectus.

We have also entered into an administration agreement,
which we refer to as the “Services Agreement,” under which we have agreed to reimburse the Administrator for our allocable
portion of overhead and other expenses incurred by the Administrator in performing its obligations under the Services Agreement. See “The Adviser and the Administrator — The Administrator and the Services Agreement” in the accompanying prospectus.

<div align='center'>Our Corporate Information</div>

Our offices are located at 747 Third Avenue, Suite
3603, New York, NY 10017, and our telephone number is (833) 736-6777.

| S-4 |

<div align='center'>THE OFFERING</div>

| Issuer                   | Pearl Diver Credit Company, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Securities Offered by Us | Up to $15,000,000 in Common Stock                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| Listing                  | Our common stock trades on the New York Stock Exchange, or “NYSE”, under the ticker symbol “PDCC”.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Manner of Offering       | “At the market offering” that may be made from time to time through the Placement Agent, using commercially reasonable efforts consistent with its sales and trading practices. See “Plan of Distribution” in this prospectus supplement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Use of Proceeds          | We intend to use the proceeds from the sale of our common stock pursuant to this prospectus to acquire investments in accordance with our investment objectives and strategies described in this prospectus but may also use proceeds to make distributions to our stockholders and for general working capital purposes. 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 the offering in our targeted investments, although the length of such period may vary depending on the availability of appropriate investment opportunities consistent with