Company: PDCC
Filing Date: 2025-09-16
Form Type: N-2/A
Source: 0001214659-25-013826
Chunk: 163

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-16
Form: N-2/A
Chunk 163
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 tax information statements. In that event, we generally will be liable
for the 4% federal excise tax only on the amount by which we do not meet the excise tax avoidance requirement. If we do not qualify as
a RIC or fail to satisfy the Distribution Requirement for any tax year, we would be subject to corporate income tax on our taxable income,
and all distributions from earnings and profits, including distributions of net capital gains (if any), will be taxable to the shareholder
as ordinary income. Such distributions generally would be eligible (i) to be treated as qualified dividend income in the case of individual
and other non-corporate shareholders and (ii) for the dividends received deduction, or the “DRD”, in the case of certain
corporate shareholders. In addition, in order to requalify for taxation as a RIC, we may be required to recognize unrealized gains, pay
substantial taxes and interest, and make certain distributions.

We may elect to treat part or all of any “qualified
late year loss” as if it had been incurred in the succeeding taxable year in determining our taxable income, net capital gain, net
short-term capital gain, and earnings and profits. The effect of this election is to treat any such “qualified late year loss”
as if it had been incurred in the succeeding taxable year in characterizing our distributions for any calendar year. A “qualified
late year loss” generally includes (i) any net capital loss incurred after October 31 of the current taxable year, or, if there
is no such loss, any net long-term capital loss or any net short-term capital loss incurred after October 31 of the current taxable year
(“post-October capital losses”) and (ii) the sum of (1) the excess, if any, of (a) specified losses incurred after
October 31 of the current taxable year, over (b) specified gains incurred after October 31 of the current taxable year and (2) the
excess, if any, of (a) ordinary losses incurred after December 31 of the current taxable year, over (b) the ordinary income
incurred after December 31 of the current taxable year. The terms “specified losses” and “specified gains” mean
ordinary losses and gains from the sale, exchange, or other disposition of property (including the termination of a position with respect
to such property) and foreign currency gains and losses. The terms “ordinary losses” and “ordinary