NEW
YORK and LONDON,
Jan. 6,
2025 /PRNewswire/ -- Pearl Diver Credit Company Inc.
(NYSE: PDCC) (the "Company") today announced that the
underwriters of its previously announced public offering (the
"Offering") of the Company's 8.00% Series A Preferred Stock Due
2029 (the "Preferred Shares") have fully exercised their option to
purchase an additional 180,000 Preferred Shares at a public
offering price of $25.00 per share.
After giving effect to the full exercise of the overallotment
option, the total number of Preferred Shares sold by the Company in
the Offering increased to 1,380,000.
The Company intends to use the proceeds from the Offering to
acquire investments in accordance with the investment objectives
and strategies described in the prospectus relating to the Offering
and for general working capital purposes. The Preferred Shares
began trading on the New York Stock Exchange under the symbol
"PDPA" on December 20, 2024.
Lucid Capital Markets, LLC ("Lucid"), B. Riley Securities, Inc.
and Kingswood Capital Partners, LLC acted as joint book-running
managers and InspereX LLC and Janney Montgomery Scott LLC acted as
lead managers for the Offering.
Investors should consider the Company's investment
objectives, risks, charges and expenses carefully before investing.
The prospectus, dated December 13,
2024, which has been filed with the Securities and Exchange
Commission ("SEC"), contains this and other information about the
Company and should be read carefully before investing. The
prospectus and this press release are not offers to sell these
securities and are not soliciting an offer to buy these securities
in any state where such offer or sale is not permitted.
A registration statement relating to these securities is on file
with and has been declared effective by the SEC. Copies of the
prospectus may be obtained by writing to Lucid Capital Markets,
LLC, 570 Lexington Avenue, New York, New
York 10022, by calling Lucid toll-free at 646-362-0256 or by
sending an e-mail to Lucid at prospectus@lucid.com. Copies may also
be obtained on the SEC's website at www.sec.gov.
About Pearl Diver Credit Company Inc.
Pearl Diver Credit Company Inc. (NYSE: PDCC) is an externally
managed, non-diversified, closed-end management investment company.
Its primary investment objective is to maximize its portfolio's
total return, with a secondary objective of generating high current
income. The Company seeks to achieve these objectives by investing
primarily in equity and junior debt tranches of CLOs collateralized
by portfolios of sub-investment grade, senior secured floating-rate
debt issued by a large number of distinct US companies across
several industry sectors. The Company is externally managed by
Pearl Diver Capital LLP. For more information, visit
www.pearldivercreditcompany.com.
Forward-Looking Statements
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described in the
prospectus and the Company's other filings with the SEC. The
Company undertakes no duty to update any forward-looking statement
made herein. All forward-looking statements speak only as of the
date of this press release.
NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
Investor Contact:
Info@Pearldivercap.com
UK: +44 (0)20 3967 8032
US: +1 617 872 0945
View original content to download
multimedia:https://www.prnewswire.com/news-releases/pearl-diver-credit-company-inc-announces-full-exercise-of-overallotment-option-on-offering-of-series-a-preferred-stock-302343454.html
SOURCE Pearl Diver Credit Company Inc.
