Rivernorth Opportunities Fund Inc Stock Price, News & Analysis

The RiverNorth Opportunities Fund (NYSE: RIV) announced the successful completion of its transferable rights offering, closing on November 8, 2022. The Fund will issue 2,752,078 new shares at a subscription price of $11.97 per share, based on 95% of the net asset value, generating approximately $32.9 million in gross proceeds. As of October 31, 2022, the Fund managed about $234 million in net assets with 18.7 million shares outstanding. Investors are advised to review the prospectus and consider the associated investment risks.

RiverNorth Opportunities Fund (NYSE: RIV) announced preliminary results of its transferable rights offering that ended on November 8, 2022. The Fund received requests for 2,752,078 shares, expecting total gross proceeds of approximately $32.9 million. The final subscription price was set at $11.97 per share, based on 95% of the Fund's net asset value (NAV) of $12.60. The shares will be record date shares for the Fund's November distribution. The final results will be disclosed by November 10, 2022.

RiverNorth Opportunities Fund (NYSE: RIV) has announced a rights offering for its stockholders as of October 14, 2022. Each stockholder will receive one transferable subscription right for every share held, allowing them to purchase additional shares at a subscription price based on 95% of either the net asset value or market price, whichever is higher. The offering will expire on November 8, 2022. As of September 30, 2022, the Fund reported net assets of approximately $229.5 million with 18.7 million shares outstanding.

On July 27, 2022, shareholders of RiverNorth Opportunities Fund (NYSE: RIV) approved a new investment advisory agreement with RiverNorth Capital Management, effective around October 1, 2022. This transition will not modify the Fund's name, investment objective, or strategy. As of June 30, 2022, the Fund had $242 million in net assets and 18.2 million shares outstanding. RiverNorth Capital Management will continue its role without significant changes in day-to-day investment decisions.

RiverNorth Opportunities Fund has declared a preferred dividend of $0.3750 per share for its 6.00% Series A Perpetual Preferred Stock (symbol: RIVPRA) for Q3 2022. Key dates include the Ex Date on August 1, 2022, Record Date on August 2, 2022, and Payable Date on August 15, 2022. This distribution is governed by the Fund's liquidation preference of $25.00 per share, though it carries inherent risks, including variability in net asset value and market conditions affecting returns.

RiverNorth Opportunities Fund has declared a preferred dividend for Q2 2022. Key details include an ex-dividend date of May 2, 2022, a record date of May 3, 2022, and a payable date of May 16, 2022. The dividend is for the 6.00% Series A Perpetual Preferred Stock (RIVPRA), amounting to $0.1042 per share, representing a partial distribution from the original issue date of April 20, 2022. The Fund emphasizes the potential risks associated with its investment objectives and distribution variability.

RiverNorth Opportunities Fund (NYSE: RIV) has priced an underwritten public offering of 3,400,000 shares of 6.00% Series A Perpetual Preferred Stock at $25.00 per share, generating approximately $81.9 million in net proceeds. The Fund has granted underwriters a 30-day option to purchase an additional 510,000 shares. The offering is scheduled to close on April 20, 2022, pending customary conditions. Proceeds will be utilized for investments in line with its goals, debt repayment, and general working capital. Listing on NYSE under the symbol 'RIVPRA' is anticipated within 30 days of issuance.

RiverNorth Opportunities Fund (NYSE: RIV) announced on March 17, 2022, that its Board of Directors approved a new investment advisory agreement with RiverNorth Capital Management, pending shareholder approval. The agreement, which originates from a recommendation by the current adviser ALPS Advisors and RiverNorth, is not expected to alter the fund's name, investment objective, strategy, or management structure. Shareholders will vote on this proposal at a special meeting in the second quarter of 2022, with a potential transition set for the third quarter.