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.
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RiverNorth Capital and Income Fund, Inc. (NYSE: RSF) announced the successful completion of its transferable rights offering, which closed on January 27, 2023. A total of 1,047,000 new shares of common stock were issued, raising approximately $16.6 million in gross proceeds. The subscription price was set at $15.84 per share, determined as 90% of the net asset value. The offering saw high demand, being oversubscribed, leading to a pro-rata allocation of over-subscription shares among record date stockholders. The Fund's investment objective focuses on achieving high current income.
RiverNorth Capital and Income Fund, Inc. (NYSE: RSF) announced the preliminary results of its transferable rights offering that expired on January 27, 2023. The Offering attracted subscription requests for 1,625,445 shares, resulting in an expected issuance of 1,047,000 new shares, generating approximately $16.6 million in gross proceeds. The subscription price per share was set at $15.84, slightly lower than the initial estimate of $16.18. The Offering was oversubscribed, leading to pro-rata allocations for over-subscription requests. New shares will be record date shares for the February 2023 distribution but not for January's distributions.
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RiverNorth Specialty Finance Corporation (NYSE:RSF) announced a name change to RiverNorth Capital and Income Fund effective December 7, 2022. The fund's investment strategy will remain unchanged, and its common shares will continue to trade under the symbol RSF, while preferred shares will trade under RMPL. As of October 31, 2022, RiverNorth managed approximately $4.9 billion in assets, focusing on opportunistic investments in niche markets. Investors are urged to review the fund's prospectus for details on risks and investment objectives.
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