Pearl Diver Credit Company Completes Successful Series A Preferred Stock Offering

Pearl Diver Credit Company Completes Series A Preferred Stock Offering

Pearl Diver Credit Company Inc. (NYSE: PDCC) has announced the successful closing of its recently public offering concerning its Series A Preferred Stocks. This offering, which totals 1,200,000 shares, has been priced at $25.00 per share. The preferred stock boasts a fixed dividend yield of 8.00%, set to mature in 2029, making it an appealing investment opportunity for investors seeking reliable income.

The proceeds from this public offering are earmarked to bolster the company's portfolio investments, aligning with their strategic objectives as outlined in varying investment prospectuses. The available capital will be allocated for general working capital purposes, ensuring Pearl Diver continues to operate and invest efficiently in accordance with its established goals.

Effective December 20, 2024, these preferred shares will begin trading under the ticker symbol "PDPA" on the New York Stock Exchange, further expanding the company’s market presence and improving liquidity options for investors.

The offering saw participation from notable financial entities in the investment space. Lucid Capital Markets, LLC, B. Riley Securities, Inc., and Kingswood Capital Partners, LLC served as joint book-running managers, with InspereX LLC and Janney Montgomery Scott LLC acting in a leading capacity for the offering process. Their expertise and leadership were pivotal in managing the complexities surrounding this transaction, ensuring a successful conclusion to the offering.

As with any investment, potential buyers are advised to scrutinize the company’s investment objectives, associated risks, charges, and expenses before making commitments. The comprehensive prospectus filed with the Securities and Exchange Commission (SEC) contains vital information relevant to investors and should be reviewed carefully.

In highlighting key operational goals, Pearl Diver Credit Company positions itself as a closed-end management investment firm focused on maximizing total returns while also generating significant current income. Their strategy primarily involves actively investing in equity and junior debt segments of Collateralized Loan Obligations (CLOs). These CLOs are secured by portfolios comprising sub-investment-grade debt issued by various U.S. companies across multiple sectors, promoting diversified risk and enhancing investment returns.

The Company operates under the guidance of Pearl Diver Capital LLP, demonstrating a commitment to maintaining a well-managed investment approach tailored to navigate the complexities of a fluctuating market environment.

Overall, the successful completion of this stock offering is a significant hallmark for Pearl Diver Credit Company, validating investor confidence and positioning the company for continued growth and success in the investment landscape. The firm encourages interested investors to engage with the official resources available, including a detailed prospectus, through the SEC or directly via their investor relations contacts should there be any inquiries regarding further investment opportunities.

"Forward-looking statements" hinted within the press release indicate the company's anticipated strategies and operational methods, although the realization of these statements is subject to numerous factors and risks that could impact future performance.

In conclusion, investors are urged to analyze all relevant material, including the filed prospectus, to make informed decisions when considering investments in Pearl Diver Credit Company’s offerings.