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.
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