PEARL DIVER CREDIT COMPANY INC.-Pearl Diver Credit Company Inc. Announces Fourth Quarter 2024 Financial Results

Core Viewpoint - Pearl Diver Credit Company Inc. announced its financial results for the fourth quarter ended December 31, 2024, highlighting key metrics such as net income, investment income, and leverage [1][2]. Financial Performance - Net asset value per share of common stock was $19.89 as of December 31, 2024 [7]. - Net investment income (NII) for the quarter was$ 3.4 million, or $0.50 per share, consisting of$ 5.4 million in investment income ( $0.80 per share) and$ 2.0 million in expenses ( $0.30 per share) [7]. - The unrealized gain on investments was$ 0.5 million, or $0.07 per share, while the realized loss on investments was also$ 0.5 million, or $0.07 per share [7]. - Total net income for the quarter was$ 3.4 million, or $0.50 per share of common stock [7]. Leverage and Investment Portfolio - The company had leverage of$ 35.6 million, representing 19.9% of total assets as of December 31, 2024 [7]. - The leverage was composed of $29.0 million of 8.00% Series A Term Preferred Stock due 2029 and$ 6.6 million in short-term repurchase agreements [7]. - The weighted average effective yield of the company's collateralized loan obligation (CLO) portfolio was 14.89% based on amortized cost [7]. Investment Exposure - The company had indirect exposure to approximately 1,200 unique corporate obligors and over 1,600 underlying loans, totaling $19.0 billion through its CLO investments [7]. - The largest look-through obligor represented 0.7% of the loans underlying the company's CLO equity portfolio, while the top ten largest look-through obligors represented 4.3% of the loans [7]. Public Offering - The company completed an underwritten public offering of 1,200,000 shares of 8.00% Series A Term Preferred Stock due 2029 at$ 25 per share, with an additional 180,000 shares sold following the exercise of the overallotment option in January 2025 [7].