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RiverNorth (NYSE:UNID) plans to launch the RiverNorth Prime Unicorn Funds, two term closed-end funds providing long or short exposure to the 30 largest U.S. private, venture-backed companies tracked by the Prime Unicorn 30 Index.
The Long Fund (UNIU) and Short Fund (UNID) will be offered at $20 per share with a 100-share minimum, are expected to begin trading on the NYSE in late July, and have a defined 366-day investment horizon from each prospectus date, unless extended.