Offering Details - The underwriters fully exercised their option to purchase an additional 180,000 Preferred Shares at $25.00 per share, increasing the total number of Preferred Shares sold to 1,380,000 [1] - The Preferred Shares began trading on the New York Stock Exchange under the symbol "PDPA" on December 20, 2024 [2] Use of Proceeds - The company intends to use the proceeds from the Offering to acquire investments in accordance with its investment objectives and strategies, as well as for general working capital purposes [2] Management and Underwriters - Lucid Capital Markets, LLC, B Riley Securities, Inc, and Kingswood Capital Partners, LLC acted as joint book-running managers for the Offering [3] - InspereX LLC and Janney Montgomery Scott LLC acted as lead managers for the Offering [3] Company Overview - Pearl Diver Credit Company Inc is an externally managed, non-diversified, closed-end management investment company [6] - The company's primary investment objective is to maximize its portfolio's total return, with a secondary objective of generating high current income [6] - The company invests primarily in equity and junior debt tranches of CLOs collateralized by portfolios of sub-investment grade, senior secured floating-rate debt issued by US companies across several industry sectors [6] - The company is externally managed by Pearl Diver Capital LLP [6]
Pearl Diver Credit Company Inc. Announces Full Exercise of Overallotment Option on Offering of Series A Preferred Stock