Company: PDCC
Filing Date: 2025-07-18
Form Type: N-2
Source: 0001214659-25-010613
Chunk: 20

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-07-18
Form: N-2
Chunk 20
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 revolving facilities that will
allow us to draw capital in the case that current cash available to pay dividends is lower than our anticipated run-rate cash dividend,
or in the case that asset values in the CLO market fall in a way as to make new investments attractive. The Adviser will decide whether
or not it is beneficial to us to use such leverage at any given time. Such facilities would be committed, but subject to certain restrictions
that may not allow us to draw capital even if the Adviser deems it favorable to do so. Such facilities, if drawn, would become senior
in priority to our common shares. The facilities would also charge us an undrawn commitment fee that we would pay on an ongoing basis,
regardless of whether we draw on the facilities or not.

We expect that we will, or that we may need to,
raise additional capital in the future to fund our continued growth, and we may do so by borrowing under a credit facility, issuing additional
shares of preferred stock or debt securities or through other leveraging instruments. Subject to the limitations under the 1940 Act, we
may use leverage opportunistically or otherwise choose to deviate from our current expectations. We may use different types or combinations
of leveraging instruments at any time based on the Adviser’s assessment of market conditions and the investment environment, including
forms of leverage other than preferred stock, debt securities, and/or credit facilities. In addition, we may borrow for temporary, emergency,
or other purposes as permitted under the 1940 Act, which indebtedness would be in addition to the asset coverage ratios described above.
By leveraging our investment portfolio, we may create an opportunity for increased net income and capital appreciation. However, the use
of leverage also involves significant risks and expenses, which will be borne entirely by the holders of our common stock, and our leverage
strategy may not be successful. For example, the more leverage is employed, the more likely a substantial change will occur in the NAV
per share of our common stock. Accordingly, any event that adversely affects the value of an investment would be magnified to the extent
leverage is utilized. See “Risk Factors — Risks Related to Our Investments — We may leverage our portfolio, which would magnify the potential for gain or loss on amounts invested and increase the risk of investing in us.”

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While we cannot control the market value of our
investments, the Adviser can determine to draw on our planned leverage facility to purchase new assets at a time of