RiverNorth Opportunities Fund, Inc. Announces Final Results of Rights Offering
November 10 2022 - 6:30PM
Business Wire
RiverNorth Opportunities Fund, Inc. (the “Fund”) (NYSE: RIV)
today announced the final results of its transferable rights
offering (the “Offering”). The Fund will issue a total of 2,752,078
new shares of common stock as a result of the Offering, which
closed on November 8, 2022 (the “Expiration Date”).
The subscription price of $11.97 per share in the Offering was
established on the Expiration Date based on a formula equal to 95%
of the reported net asset value. Gross proceeds received by the
Fund, before any expenses of the Offering, are expected to total
approximately $32.9 million.
This press release shall not constitute an offer to sell or
constitute a solicitation of an offer to buy.
RiverNorth Opportunistic Fund, Inc.
The investment objective of the Fund is total return consisting
of capital appreciation and current income. The Fund had
approximately $234.0 million of net assets and 18.7 million shares
of common stock outstanding as of October 31, 2022.
The Fund is a closed-end fund and does not continuously issue
stock for sale as open-end mutual funds do. The Fund now trades in
the secondary market. Investors wishing to buy or sell stock need
to place orders through an intermediary or broker. The share price
of a closed-end fund is based on the market value.
Risk is inherent in all investing. Investing in any investment
company security involves risk, including the risk that you may
receive little or no return on your investment or even that you may
lose part or all of your investment. Therefore, before investing in
the shares of common stock, you should consider the risks as well
as the other information in the prospectus, annual report and
semi-annual report.
Past performance is no guarantee of future results.
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.rivernorth.com or call 844.569.4750. Please read them
carefully before investing.
RiverNorth Capital Management, LLC
RiverNorth is an investment management firm founded in 2000 that
specializes in opportunistic strategies in niche markets where the
potential to exploit inefficiencies is greatest. RiverNorth is the
manager to multiple registered and private funds.
Not FDIC Insured | May Lose Value | No Bank Guarantee ALPS
Portfolio Solutions Distributor, Inc. is the FINRA Member Firm.
RiverNorth® is a registered trademark of RiverNorth Capital
Management, LLC. ©2000-2022 RiverNorth Capital Management, LLC. All
rights reserved.
RVC000391
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version on businesswire.com: https://www.businesswire.com/news/home/20221110006176/en/
Investor Contact Chris Lakumb, CFA, CAIA 312.445.2336
clakumb@rivernorth.com
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