Filing by Certain Investment Companies of Rule 482 Advertising in Accordance With Rule 497 and the Note to Rule 482(e) (497ad)
March 17 2022 - 4:59PM
Edgar (US Regulatory)
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RIVERNORTH OPPORTUNITIES FUND,
INC. ANNOUNCES APPROVAL OF INVESTMENT ADVISORY AGREEMENT WITH RIVERNORTH CAPITAL MANAGEMENT
DENVER – March 17, 2022 – 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.
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.
RVC000364 3/17/2023
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