Company: PDCC
Filing Date: 2025-09-16
Form Type: N-2/A
Source: 0001214659-25-013826
Chunk: 227

Company: Pearl Diver Credit Co Inc.
Filing Date: 2025-09-16
Form: N-2/A
Chunk 227
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 under a repurchase agreement is accomplished, the Company might encounter a
delay and incur costs, including a decline in the value of the securities, before being able to sell the securities. Repurchase agreements
that are subject to foreign law may not enjoy protections comparable to those provided to certain repurchase agreements under U.S. bankruptcy
law, and they therefore may involve greater risks.

Reverse Repurchase Agreements and Sale-Buybacks. Reverse repurchase agreements are transactions in which the Company sells portfolio securities to financial institutions,
such as banks and broker-dealers, and agrees to repurchase them at a mutually agreed-upon date and price that is higher than the original
sale price. Reverse repurchase agreements are similar to a fully collateralized borrowing by the Company. Reverse repurchase agreements
involve risks. Reverse repurchase agreements are a form of leverage, and the use of reverse repurchase agreements by the Company may increase
the Company's volatility. Reverse repurchase agreements are also subject to the risk that the other party to the reverse repurchase agreement
will be unable or unwilling to complete the transaction as scheduled, which may result in losses to the Company. Reverse repurchase agreements
also involve the risk that the market value of the securities sold by the Company may decline below the price at which it is obligated
to repurchase the securities. In addition, when the Company invests the proceeds it receives in a reverse repurchase transaction, there
is a risk that those investments may decline in value. In this circumstance, the Company could be required to sell other investments in
order to meet its obligations to repurchase the securities.

In a sale-buyback transaction,
the Company sells an underlying security for settlement at a later date. A sale-buyback is similar to a reverse repurchase agreement,
except that in a sale-buyback the counterparty who purchases the security is entitled to receive any principal or interest payments made
on the underlying security pending settlement of the Company's repurchase of the underlying security.

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<div align='center'>CONTROL PERSONS AND PRINCIPAL STOCKHOLDERS</div>

A control
person is a person who beneficially owns, either directly or through one or more controlled companies, more than 25% of the voting securities
of a company. The following table sets forth certain ownership information with respect to shares of our common stock held by (1) those
persons who directly or indirectly own, control or hold with the power to vote, 5% or more of the outstanding shares of