Filing by Certain Investment Companies of Rule 482 Advertising in Accordance With Rule 497 and the Note to Rule 482(e) (497ad)
September 22 2021 - 4:55PM
Edgar (US Regulatory)
RIVERNORTH OPPORTUNITIES FUND, INC. ANNOUNCES RIGHTS
OFFERING
DENVER – September 22, 2021 – RiverNorth
Opportunities Fund, Inc. (NYSE: RIV) (the “Fund”) announces that its Board of Directors (the “Board”) has authorized
and set the terms of an offering to the Fund’s stockholders of rights to purchase additional shares of common stock of the Fund.
In this offering, the Fund will issue transferable
subscription rights (“Rights”) to its stockholders of record as of October 1, 2021 (the “Record Date” and such
stockholders, “Record Date Stockholders”) allowing the holder to subscribe for new shares of common stock of the Fund (the
“Primary Subscription”). Record Date Stockholders will receive one Right for each share of common stock held on the Record
Date. For every three Rights held, a holder of Rights may buy one new share of common stock of the Fund. Record Date Stockholders who
exercise their Rights will not be entitled to distributions payable during October 2021 on shares issued in connection with the Rights
Offering. The Rights are expected to be listed and tradable on the New York Stock Exchange (“NYSE”) under the ticker: RIV
RT.
Record Date Stockholders who fully exercise all Rights
initially issued to them in the Primary Subscription will be entitled to buy those shares of common stock that are not purchased by other
Record Date Stockholders.
The subscription price per share of common stock will
be determined based upon a formula equal to 97.5% of the reported net asset value or 95% of the market price per share of common stock,
whichever is higher on the Expiration Date (as defined below). Market price per share of common stock will be determined based on the
average of the last reported sales price of a share of common stock on the NYSE for the five trading days preceding (and not including)
the Expiration Date. The subscription period will expire on November 5, 2021, unless extended by the Board (the “Expiration Date”).
The rights offering will be made pursuant to the Fund’s
currently effective shelf registration statement on file with the Securities and Exchange Commission (“SEC”) and only by means
of a prospectus supplement and accompanying prospectus. A final prospectus supplement and accompanying prospectus will be filed with the
SEC, but has not been filed as of the date of this release. The Company expects to mail subscription certificates evidencing the subscription
rights and a copy of the prospectus supplement and accompanying prospectus for the rights offering shortly following the Record Date.
These securities described in this release may not be sold nor may offers to purchase be accepted prior to the time the prospectus supplement
and accompanying prospectus are filed with the SEC.
This press release shall not constitute an offer to sell or constitute
a solicitation of an offer to buy.
Investors should read the prospectus supplement
and accompanying prospectus, when available, and consider the investment objective, risks, fees and expenses of the Fund carefully before
investing. To obtain a copy of the prospectus supplement and accompanying prospectus, when available, or the Fund’s annual report
or semi-annual report, each of which contains this and other information about the Fund, visit www.rivernorthcef.com or call 855.830.1222.
Please read them carefully before investing.
The investment objective of the Fund is total return consisting of capital
appreciation and current income. The Fund had approximately $220 million of net assets and 12.9 million shares of common stock outstanding
as of September 7, 2021.
The Fund is a closed-end fund and does not continuously issue shares
for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing
to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's
value.
ALPS Advisors, Inc. is the investment adviser to the Fund.
RiverNorth Capital Management, LLC is the investment sub-adviser to
the Fund. RiverNorth Capital Management, LLC is not affiliated with ALPS Advisors, Inc. or any of its affiliates.
ALPS Portfolio Solutions Distributor, Inc. is the FINRA Member firm.
NOT FDIC INSURED | May Lose
Value | No Bank Guarantee
About SS&C Technologies
SS&C is a global provider of services and
software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and
has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small
and mid-market firms, rely on SS&C for expertise, scale, and technology. Additional information about SS&C (Nasdaq: SSNC) is available
at www.ssctech.com.
About SS&C ALPS Advisors
ALPS Advisors, Inc., a wholly-owned subsidiary of SS&C Technologies,
Inc., is a leading provider of investment products for advisors and institutions. With over $18.5 billion in assets under management as
of June 30, 2021, the firm provides access to asset classes and boutique asset managers in real assets, alternatives, thematic/factor
and fixed income through both ETF and open-end mutual fund structures. For more information, visit www.alpsfunds.com.
About RiverNorth Capital Management, LLC
RiverNorth Capital Management, LLC is an investment management
firm founded in 2000. With $5.5 billion1 in assets under management as of July 31, 2021, RiverNorth specializes in opportunistic
investment strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is an institutional investment
manager to registered funds, private funds and separately managed accounts.
1 Managed Assets includes assets attributable to leverage
and investments in affiliated funds.
Media Contact:
Christopher Murphy*
Head of Advisor Marketing
SS&C ALPS Advisors
720.277.7861
Christopher.murphy@sscinc.com
*Registered Representative
of ALPS Distributors, Inc.
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