Group 1 - Pearl Diver Credit Company Inc. announced the closing of a public offering of 1,200,000 shares of its 8.00% Series A Preferred Stock due 2029 at a price of $25.00 per share [1][2] - The proceeds from the offering will be used to acquire investments in line with the company's investment objectives and for general working capital [2] - The Preferred Shares will start trading on the New York Stock Exchange under the symbol "PDPA" on December 20, 2024 [2] Group 2 - Lucid Capital Markets, LLC, B. Riley Securities, Inc., and Kingswood Capital Partners, LLC served as joint book-running managers for the offering [3] - The company is an externally managed, non-diversified, closed-end management investment company focused on maximizing total return and generating high current income [6] - Pearl Diver Credit Company primarily invests in equity and junior debt tranches of CLOs backed by portfolios of sub-investment grade, senior secured floating-rate debt from various US companies across multiple sectors [6]
Pearl Diver Credit Company Inc. Announces Closing of Offering of Series A Preferred Stock