Company: PDCC
Filing Date: 2025-09-16
Form Type: N-2/A
Source: 0001214659-25-013826
Chunk: 85

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-16
Form: N-2/A
Chunk 85
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 stock and other senior securities, including borrowings, and may affect our
ability to pay distributions on our capital stock, which could materially impair our business operations. Our liquidity could be impaired
further by an inability to access the capital markets or to obtain debt financing. For example, we cannot be certain that we would be
able to obtain debt financing on commercially reasonable terms, if at all. See “— If we are unable to obtain, and/or refinance debt capital, our business could be materially adversely affected.” In previous market cycles, many lenders and
institutional investors have previously reduced or ceased lending to borrowers. In the event of such type of market turmoil and tightening
of credit, increased market volatility and widespread reduction of business activity could occur, thereby limiting our investment opportunities.

Moreover, we are unable to predict when economic
and market conditions may be favorable in future periods. Even if market conditions are broadly favorable over the long term, adverse
conditions in particular sectors of the financial markets could adversely impact our business.

If we are unable to obtain and/or refinance debt capital, our business could be materially adversely affected.

We currently anticipate obtaining debt financing
within 12 months of this offering in order to obtain funds to make additional investments and grow our portfolio of investments. See “— Because we expect to distribute substantially all of our ordinary income and net realized capital gains to our stockholders, we may need additional capital to finance the acquisition of new investments and such capital may not be available on favorable terms, or at all.”Such debt capital may take the form of a term credit facility with a fixed maturity date or other fixed term instruments, and
we may be unable to extend, refinance, or replace such debt financings prior to their maturity.

If we are unable to obtain or refinance debt capital
on commercially reasonable terms, our liquidity will be lower than it would have been with the benefit of such financings, which would
limit our ability to grow our business. In addition, holders of our common stock would not benefit from the potential for increased returns
on equity that incurring leverage creates. Any such limitations on our ability to grow and take advantage of leverage may decrease our
earnings, if any, and distributions to stockholders, which in turn may lower the trading price of our common stock. In addition, in such
event, we may need to liquidate certain of our investments, which may be difficult to sell if required, meaning that we may realize significantly
less than the value at which we have