DENVER, March 17,
2022 /PRNewswire/ -- RiverNorth Opportunities Fund,
Inc. (NYSE: RIV) (the "Fund") is pleased to announce the Fund's
Board of Directors have approved a new investment advisory
agreement with RiverNorth Capital Management, LLC ("RiverNorth"),
subject to shareholder approval. The Fund's current investment
adviser, ALPS Advisors and RiverNorth, the Fund's current
subadviser made the recommendation to the Board of Directors at a
meeting held on March 17,
2022.
"The partnership between SS&C ALPS and RiverNorth has grown
closer over time, and we look forward to working with the team at
RiverNorth to support their continued growth," said Laton Spahr*,
President of ALPS Advisors.
The new investment advisory agreement will not affect the Fund's
name, investment objective, investment strategy, portfolio
management or ticker symbol. Since the Fund's inception, RiverNorth
has been responsible for making day-to-day investment decisions,
with the anticipated transition to adviser, no changes are
expected.
Shareholders of the Fund will receive a related proxy statement
describing the proposal and will be asked to consider the approval
of the new investment advisory agreement at a special shareholder
meeting that will take place in the second quarter of this year. If
approved by shareholders, the Fund anticipates the transition
between ALPS Advisors and RiverNorth will occur in the third
quarter of 2022.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy.
Information regarding the proposal will be contained in the
proxy materials to be filed with the Securities and Exchange
Commission ("SEC"). Shareholders should read the proxy statement
when it is available because it contains important information. The
proxy statement will be mailed to shareholders of record, and
shareholders will also be able to access the proxy statement, and
any other relevant documents, on the SEC's website at www.sec.gov
once filed. The proxy statement also will be available at
www.proxyvote.com and a paper copy can be obtained at no charge by
calling 855.830.1222.
Investors should consider the investment objective, risks,
fees and expenses of the Fund carefully before investing. To obtain
a copy of the annual 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 $286 million of net
assets and 17.5 million shares of common stock outstanding as of
December 31, 2021.
The Fund is a closed-end fund and 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.
* Laton Spahr is a Registered Representative of ALPS
Distributors, Inc.
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 $17
billion in assets under management as of December 31, 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 $5.8
billion1 in assets under management as of
December 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 Firm AUM reflects Managed Assets which
includes the effects of leverage and investments in affiliated
funds.
RVC000364 3/17/2023
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SOURCE RiverNorth Opportunities Fund, Inc