Pearl Diver Credit Company Inc. Announces First Quarter 2025 Financial Results

Core Viewpoint - Pearl Diver Credit Company Inc. reported a net loss of $6.1 million for Q1 2025, a significant decline from a net income of$3.4 million in the previous quarter, primarily due to unrealized losses on investments resulting from increased market risk premiums affecting CLO equity valuations [6]. Financial Performance - Net asset value per share decreased to $18.33 as of March 31, 2025, down from$19.89 as of December 31, 2024, reflecting a decrease of $1.56 per share [6]. - Net investment income for Q1 2025 was$3.4 million, or $0.50 per share, consisting of$6.0 million in investment income and $2.6 million in expenses [6]. - Unrealized losses on investments totaled$9.6 million, or $1.41 per share, compared to a gain of$0.5 million, or $0.07 per share in the previous quarter [6]. - The company had leverage of$40.4 million, representing 23.2% of total assets as of March 31, 2025, an increase from $35.6 million or 19.9$22.7 billion [6]. - The largest look-through obligor represented 0.6% of the loans underlying the CLO equity portfolio, while the top ten largest obligors represented 4.4% [6]. Capital Raising - The company closed the over-allotment option on its public offering of 8.00% Series A Term Preferred Stock Due 2029, raising net proceeds of $33.2 million from the sale of 1,480,000 shares at$25 per share [6].