Rights offering from RiverNorth Opportunities Fund (NYSE: RIV)
Rhea-AI Filing Summary
RiverNorth Opportunities Fund, Inc. is launching a transferable rights offering for its common stockholders. Investors of record on September 11, 2025 will receive one subscription right for each share owned, and for every three rights they may buy one new share in the primary subscription.
The subscription price will be based on a formula using the higher of 92.5% of net asset value or 95% of market price on the October 6, 2025 expiration date. Rights are expected to trade on the NYSE under ticker RIV.RT, and stockholders who fully exercise their rights may subscribe for any shares not taken up by others. The Fund reported about $268.5 million of net assets and 21.5 million common shares outstanding as of July 31, 2025.
Positive
- None.
Negative
- None.
Insights
RiverNorth is using a transferable rights offering to raise equity from existing shareholders at a formula-based discount.
RiverNorth Opportunities Fund is granting stockholders rights to buy additional common shares, with one right per share held and one new share purchasable for every three rights. The subscription price is set by a formula tied to
The rights are expected to trade on the NYSE as RIV.RT, letting investors who do not wish to participate potentially sell their rights, while others can buy more. Stockholders who fully exercise their initial rights can request additional shares not purchased by others, which concentrates new issuance with more active participants. As of
RIVERNORTH
OPPORTUNITIES FUND, INC.
ANNOUNCES TRANSFERABLE RIGHTS OFFERING
West Palm Beach, FL– August 25, 2025 – RiverNorth Opportunities Fund, Inc. (NYSE: RIV) (the “Fund”) announces that its Board of Directors (the “Board”) has authorized and set the terms of an offering to the Fund’s common stockholders of rights to purchase additional shares of common stock of the Fund.
In this offering, the Fund will issue transferable subscription rights (“Rights”) to its common stockholders of record as of September 11, 2025 (the “Record Date” and such stockholders, “Record Date Stockholders”) allowing the holder to subscribe for new shares of common stock of the Fund (the “Primary Subscription”). Record Date Stockholders will receive one Right for each share of common stock held on the Record Date. For every three Rights held, a holder of Rights may buy one new share of common stock of the Fund. Record Date Stockholders who exercise their Rights will not be entitled to distributions payable during September 2025 on shares issued in connection with the Rights Offering, but they will be entitled to distributions payable during October 2025 on these shares. The Rights are expected to be listed and tradable on the New York Stock Exchange (“NYSE”) under the ticker: RIV.RT.
Record Date Stockholders who fully exercise all Rights initially issued to them in the Primary Subscription will be entitled to buy those shares of common stock that are not purchased by other Record Date Stockholders.
The subscription price per share of common stock will be determined based upon a formula equal to 92.5% of the reported net asset value or 95% of the market price per share of common stock, whichever is higher on the Expiration Date (as defined below). Market price per share of common stock will be determined based on the average of the last reported sales price of a share of common stock on the NYSE for the five trading days preceding (and not including) the Expiration Date. The subscription period will expire on October 6, 2025, unless extended by the Board (the “Expiration Date”).
The rights offering will be made pursuant to the Fund’s currently effective shelf registration statement on file with the Securities and Exchange Commission (“SEC”) and only by means of a prospectus supplement and accompanying prospectus. A final prospectus supplement and accompanying prospectus will be filed with the SEC but has not been filed as of the date of this release. The Company expects to mail subscription certificates evidencing the subscription rights and a copy of the prospectus supplement and accompanying prospectus for the rights offering shortly following the Record Date. These securities described in this release may not be sold nor may offers to purchase be accepted prior to the time the prospectus supplement and accompanying prospectus are filed with the SEC.
This press release shall not constitute an offer to sell or constitute a solicitation of an offer to buy.
__________
RiverNorth Opportunities Fund, Inc.
The investment objective of the Fund is total return consisting of capital appreciation and current income. The Fund had approximately $268.5 million of net assets and 21.5 million shares of common stock outstanding as of July 31, 2025.
The Fund is a closed-end fund and does not continuously issue stock for sale as open-end mutual funds do. The Fund now trades in the secondary market. Investors wishing to buy or sell stock need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market value.
Risk is inherent in all investing. Investing in any investment company security involves risk, including the risk that you may receive little or no return on your investment or even that you may lose part or all of your investment. Therefore, before investing in the shares of common stock, you should consider the risks as well as the other information in the prospectus, annual report and semi-annual report.
Past performance is no guarantee of future results.
Investors should read the prospectus supplement and accompanying prospectus, when available, and consider the investment objective, risks, fees and expenses of the Fund carefully before investing. To obtain a copy of the prospectus supplement and accompanying prospectus, when available, visit www.rivernorth.com or call 844.569.4750. Please read them carefully before investing.
RiverNorth Capital Management, LLC
RiverNorth Capital Management, LLC (“RiverNorth”) is an independent investment manager and closed-end fund expert specializing in opportunistic strategies and structures built to exploit market inefficiencies. Founded in 2000, RiverNorth manages $4.9 billion1 of assets in registered funds, private funds and separately managed accounts.
Investor Contact
RiverNorth CEF Investor Relations
800-646-0148, Option 1
CEF@rivernorth.com
| 1 | As of July 31, 2025. Firm AUM reflects Managed Assets which includes the effects of leverage and investments in affiliated funds. |
Not FDIC Insured | May Lose Value | No Bank Guarantee
Marketing services provided by ALPS Distributors Inc. ALPS and RiverNorth are not affiliated.
RiverNorth® is a registered trademark of RiverNorth Capital Management, LLC.
©2000-2025 RiverNorth Capital Management, LLC. All rights reserved.
RVC000404
FAQ
What is RiverNorth Opportunities Fund (RIV) announcing in this rights offering?
The Fund is offering its common stockholders transferable subscription rights to buy additional shares of common stock. Each stockholder of record on September 11, 2025 will receive one right per share, and every three rights allow the purchase of one new share during the subscription period.
How will the subscription price be determined for the RIV rights offering?
The subscription price per new share will be the higher of 92.5% of the Fund’s reported net asset value or 95% of the market price per share on the expiration date. Market price will be based on the average of the last reported sales price on the NYSE for the five trading days before, but not including, the expiration date.
When does the RiverNorth (RIV) rights offering begin and end?
Stockholders of record as of September 11, 2025 will receive rights, and the subscription period is scheduled to expire on October 6, 2025, unless extended by the Board. Rights and related materials are expected to be mailed shortly after the record date.
Will the RiverNorth Opportunities Fund (RIV) rights be tradable on an exchange?
Yes. The subscription rights are expected to be listed and tradable on the New York Stock Exchange under the ticker symbol RIV.RT, allowing holders to buy or sell rights through their broker during the offering period.
Do RIV stockholders who exercise rights receive upcoming distributions on new shares?
Record Date Stockholders who exercise their rights will not receive distributions payable during September 2025 on shares issued in the rights offering. They will, however, be entitled to distributions payable during October 2025 on these new shares.
What are the size and structure of RiverNorth Opportunities Fund (RIV)?
As of July 31, 2025, the Fund reported approximately $268.5 million in net assets and 21.5 million shares of common stock outstanding. It is a closed-end fund whose shares trade in the secondary market on the NYSE.
Where can RIV investors get the prospectus for the rights offering?
Once filed, the prospectus supplement and accompanying prospectus for the rights offering will be available at www.rivernorth.com or by calling 844.569.4750. Investors are encouraged to read these documents carefully before investing.
