Pearl Diver Credit Company Inc. Announces Third Quarter 2024 Financial Results
Third Quarter 2024 Results
- Net asset value per share of common stock
$20.05 as ofSeptember 30, 2024 . - NII for the period from the Company's initial public offering ("IPO") on
July 18, 2024 throughSeptember 30, 2024 was$2.7 million , or$0.40 per share of common stock, comprised of$3.9 million of investment income, or$0.58 per share, and$1.2 million of expenses, or$0.18 per share. - For the period from
July 18, 2024 throughSeptember 30, 2024 , unrealized gain on investments was$0.5 million , or a gain of$0.08 per share of common stock. - Net income for the period from
July 18, 2024 throughSeptember 30, 2024 was$3.3 million , or$0.48 per share of common stock. - The Company had no leverage as of
September 30, 2024 . - As of
September 30, 2024 :- The weighted average effective yield of the Company's collateralized loan obligation ("CLO") equity portfolio, based on amortized cost, was 16.33%.
- Completed an underwritten public offering of
$50.6 million at$20 per share, or 2.53 million shares. - As of
September 30, 2024 , on a look-through basis, and based on the most recent trustee reports received by such date:- The Company, through its CLO investments, had indirect exposure to approximately 1,200 unique corporate obligors and over 1,500 underlying loans, totaling
$18.8 billion . - The largest look-through obligor represented 0.7% of the loans underlying the Company's CLO equity portfolio.
- The top ten largest look-through obligors together represented 4.5% of the loans underlying the Company's CLO equity portfolio.
- The Company, through its CLO investments, had indirect exposure to approximately 1,200 unique corporate obligors and over 1,500 underlying loans, totaling
Conference Call
As previously announced,
A replay of the conference call will be available within two hours of the conclusion of the call and can be accessed online on the website.
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Cautionary Statement Regarding Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company's other filings with the
Investor Contact:
Info@Pearldivercap.com
US: +1 617 872 0945
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