Welcome to our dedicated page for RiverNorth Opportunities news (Ticker: RIV), a resource for investors and traders seeking the latest updates and insights on RiverNorth Opportunities stock.
RiverNorth Opportunities Fund, Inc. (RIV) reports developments for a diversified closed-end management investment company with an investment objective of total return through capital appreciation and current income. News commonly covers common-share distributions, preferred-share dividends on its 6.000% Series A Perpetual Preferred Stock, and distribution-source disclosures tied to fund payments.
Company updates also address transferable rights offerings, NAV-based subscription pricing, changes to common shares outstanding, and capital-structure matters for the secondary-market-traded closed-end fund. Governance and shareholder voting items appear alongside operating and financial results and updates involving RiverNorth Capital Management, LLC.
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.
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RiverNorth Opportunities Fund (NYSE: RIV) has successfully completed its transferable rights offering, issuing 4,373,407 new common shares. The offering, which closed on November 5, 2021, priced shares at $16.81 each, based on 97.5% of the Fund's net asset value, generating gross proceeds of approximately $73.5 million. The offering was oversubscribed, with excess requests allocated pro-rata among participating shareholders. As of September 30, 2021, the Fund reported $221 million in net assets and 13.1 million shares outstanding.
RiverNorth Opportunities Fund (NYSE: RIV) announced preliminary results of its rights offering that expired on November 5, 2021. The Fund received requests for 5,228,431 shares, expecting to issue up to 4,373,407 new shares, generating gross proceeds of approximately $73.5 million. The subscription price was set at $16.81 per share, lower than the initial estimate of $16.94. The offering was oversubscribed, exceeding available over-subscription shares. Final results will be released on November 10, 2021.
RiverNorth Opportunities Fund (RIV) announced updates on its November 2021 monthly distribution, with an Ex Date set for November 15 and a Record Date for November 16. Shareholders will receive $0.17 per share, amounting to an annualized distribution rate of approximately 12.05%, based on a current NAV of $16.93. Shareholders who participated in the 2021 rights offering are eligible for this distribution. The next payment date is November 30, 2021. Investments in the Fund carry risks, including potential loss of capital and variable distribution rates.