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. reports developments for an income-oriented closed-end fund that invests in credit instruments, including securities of specialty finance and other financial companies. News for RSF centers on fund distributions, preferred-share dividends, rights offerings, subscription terms, net asset value calculations, and common or preferred stock capital actions.
Updates also describe distribution-source notices, liquidation preferences, over-subscription mechanics, and other shareholder matters tied to the fund’s closed-end structure and managed income strategy.
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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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