NEW
YORK and LONDON,
July 17,
2024 /PRNewswire/ -- Pearl Diver Credit Company
Inc. (NYSE: PDCC) (the "Company") today announced the pricing of
its upsized initial public offering of 2.2 million shares at
$20 per share, which will result in
net proceeds to the Company of approximately $44 million. In addition, the Company has granted
the underwriters a 45-day option to purchase up to an additional
330,000 shares of common stock to cover over-allotments, if any.
The Company is a closed-end, registered fund that will trade on the
New York Stock Exchange under the ticker "PDCC." The offering is
expected to close on July 19, 2024,
subject to customary closing conditions.
The Company intends to use the proceeds from the capital raised
to build a diversified portfolio of senior secured U.S. corporate
loans through investments in equity tranches of collateralized loan
obligations (CLOs).
Kingswood Capital Partners, LLC is acting as the sole bookrunner
for the offering.
Investors should consider the Company's investment
objectives, risks, charges and expenses carefully before investing.
The preliminary prospectus, 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 information in the preliminary prospectus
and this press release is not complete and may be changed. The
preliminary 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
preliminary prospectus (and the final prospectus, when available)
may be obtained by writing to Kingswood Capital Partners, LLC, 126
East 56th Street, Suite 22S, New York, NY 10022, or by calling
212-487-1080. Copies may also be obtained by visiting EDGAR on the
SEC's website at www.sec.gov.
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
Media Contact:
Joseph Kuo / Michael Dugan
Haven Tower Group LLC
424 317 4851 or 424 317 4852
jkuo@haventower.com or mdugan@haventower.com
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SOURCE Pearl Diver Credit Company Inc.