Welcome to our dedicated page for RiverNorth Capital and Fund news (Ticker: RSF), a resource for investors and traders seeking the latest updates and insights on RiverNorth Capital and Fund stock.
RiverNorth Capital and Income Fund, Inc. (NYSE: RSF) is a closed-end management investment company that focuses on generating a high level of current income through investments in credit instruments and securities of specialty finance and other financial companies. The RSF news page on Stock Titan highlights official announcements and developments that the Fund has released to the market.
News items for RiverNorth Capital and Income Fund include corporate actions such as transferable rights offerings, where the Fund has described subscription requests for new common shares, oversubscription demand and the formulas used to set subscription prices based on a percentage of net asset value. These updates provide insight into how the Fund raises additional capital and how new shares are allocated among existing stockholders.
Investors can also find announcements related to income distributions, including preferred dividends on the Fund’s 5.875% Series A Term Preferred Stock, which trades under the symbol RMPL. Such releases outline ex-dates, record dates and payable dates for distributions, and explain that distributions may come from ordinary income, net realized capital gains or return of capital, with Section 19(a) notices issued when applicable.
Because the Fund invests in credit instruments and Alternative Credit, its public communications often reiterate risk disclosures about borrower defaults, verification of borrower information and the speculative nature of its unrated Alternative Credit investments. Following RSF news helps readers understand how the Fund communicates about rights offerings, distribution policies and risk factors over time.
By reviewing the RiverNorth Capital and Income Fund news feed on Stock Titan, users can monitor official press releases and updates that relate to the Fund’s capital-raising activities, preferred stock distributions and other material information referenced in its public statements.
RiverNorth Capital and Income Fund, Inc. (NYSE: RSF) has announced an update to its previously disclosed plan to redeem all 1,656,000 outstanding shares of its 5.875% Series A Term Preferred Stock (NYSE: RMPL). The redemption date has been moved to October 31, 2024, from the initially anticipated date of October 4, 2024.
The redemption price is estimated at $25.31 per share, which includes the $25.00 liquidation preference plus $0.31 in estimated accrued and unpaid dividends. Following the redemption, the Series A Preferred Stock will cease to be outstanding, and all associated rights and dividend accumulations will end.
The Fund, with approximately $113 million in total managed assets as of August 31, 2024, aims to provide a high level of current income. RiverNorth Capital Management, , the Fund's investment manager, specializes in opportunistic investment strategies and manages $5.1 billion in assets as of the same date.
RiverNorth Capital and Income Fund, Inc. (NYSE: RSF) has announced the redemption of all 1,656,000 outstanding shares of its 5.875% Series A Term Preferred Stock (NYSE: RMPL). The anticipated redemption date is October 4, 2024, with a possible extension to October 31, 2024. The redemption price is estimated at $25.20 per share, including accrued dividends. Following the redemption, the Series A Preferred Stock will be delisted from the NYSE. As of July 31, 2024, RSF had approximately $113 million in total managed assets and 3.9 million shares of common stock outstanding. RiverNorth Capital Management, , the fund's investment manager, had $5.1 billion in assets under management as of the same date.
RiverNorth Capital and Income Fund (NYSE: RSF) disclosed the final results of its repurchase offer. The offer, which aimed to buy back up to 5% of its outstanding common shares, concluded on July 3, 2024, at 5:00 P.M. Eastern Time.
A total of 2,335,546 shares were submitted for redemption, but only 202,931 shares were actually repurchased, based on the information from DST Systems, Inc., the depositary for the offer. Given that the number of tendered shares exceeded the repurchase limit, shares were bought back on a pro-rata basis.
The purchase price was set at the Fund's net asset value per share, calculated at $16.60 as of the close of trading on July 3, 2024. For further questions, shareholders can contact DST Systems, Inc. at 844-569-4750.
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