05:07 AM EST, 12/13/2024 (MT Newswires) -- Pearl Diver Credit Company ( PDCC ) said late Thursday it priced a public offering of 1.2 million shares of its 8% series A preferred stock due 2029 at $25 per share for net proceeds of about $28.8 million.

Underwriters have been granted a 30-day option to purchase up to 180,000 additional shares.

The company said the preferred shares are rated 'BBB' by Egan-Jones Ratings.

The offering is expected to close on Dec. 18.