Pearl Diver Credit Company Inc. - PDCC STOCK NEWS

Pearl Diver Credit Company (NYSE: PDCC) reported its Q3 2024 financial results, marking its first quarterly report since its IPO on July 18, 2024. The company achieved a net asset value of $20.05 per share and net income of $3.3 million ($0.48 per share). Net investment income was $2.7 million ($0.40 per share), comprising $3.9 million in investment income and $1.2 million in expenses. The company's CLO equity portfolio showed a weighted average effective yield of 16.33%. Through its CLO investments, PDCC has exposure to approximately 1,200 unique corporate obligors across $18.8 billion in underlying loans.

Pearl Diver Credit Company Inc. (NYSE: PDCC) has announced its upcoming third quarter 2024 financial results release and conference call. The company will release its financial results before market open on Tuesday, October 29, 2024. Following the release, PDCC will host a conference call at 11:00 a.m. Eastern Time / 4:00 pm UK time on the same day to discuss the financial results.

Investors and analysts interested in participating can dial 1-877-407-9208 (international callers: 1-201-493-6784) approximately 10 minutes before the call starts. A live audio webcast will be available on the company's website. A replay of the conference call will be accessible within two hours after its conclusion, also on the website.

Pearl Diver Credit Company Inc. (NYSE: PDCC) has announced its Board of Directors' decision to declare a regular monthly dividend of $0.22 per share for August, September, and October 2024. The dividends will be paid on August 30, September 30, and October 30, 2024, respectively, to shareholders of record on August 16, September 16, and October 16, 2024. The company offers a Dividend Reinvestment Plan (DRIP) for automatic reinvestment of dividends into additional shares of common stock, unless stockholders opt out to receive cash distributions.

Under the DRIP, if the market price equals or exceeds the net asset value, new shares are issued at the greater of the net asset value or 95% of the current market price. If the net asset value exceeds the market price, shares are purchased in the open market for DRIP participants.

Pearl Diver Credit Company Inc. (NYSE: PDCC) has successfully closed its initial public offering (IPO) of 2.2 million shares at $20.00 per share, with a fully exercised overallotment option of 330,000 shares. The company raised total net proceeds of $50.6 million. Pearl Diver Capital LLP, the company's investment adviser, will cover the sales load and all organizational and offering expenses. PDCC began trading on the NYSE on July 18, 2024, with a market capitalization of approximately $136 million as of July 19, 2024. The company plans to use the proceeds to build a diversified portfolio of senior secured U.S. corporate loans through investments in equity tranches of collateralized loan obligations (CLOs).

Pearl Diver Credit Company Inc. (NYSE: PDCC) has launched its initial public offering, aiming to raise $44 million by issuing 2.2 million shares at $20 per share. The closed-end, 40 Act fund will trade on the NYSE and invest in equity tranches of collateralized loan obligations (CLOs). Pearl Diver Capital LLP will serve as the investment adviser, covering all sales load, organizational, and offering expenses. The IPO is expected to close on July 19, 2024, with trading beginning on July 18, 2024. This offering provides RIAs, family offices, and high-net-worth investors access to sophisticated alternative credit strategies previously to institutional investors.

Pearl Diver Credit Company Inc. (NYSE: PDCC) has announced the pricing of its upsized initial public offering. The company is offering 2.2 million shares at $20 per share, expecting to raise net proceeds of approximately $44 million. PDCC has also granted underwriters a 45-day option to purchase up to 330,000 additional shares to cover over-allotments. The offering is set to close on July 19, 2024, subject to customary conditions.

PDCC, a closed-end registered fund, will trade on the NYSE under the ticker 'PDCC'. The company plans to use the proceeds 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, is acting as the sole bookrunner for the offering.