RiverNorth Opportunities Fund, Inc. Announces Preliminary Results of Rights Offering

DENVER, Nov. 9, 2020 /PRNewswire/ -- RiverNorth Opportunities Fund, Inc. RIV (the "Fund") is pleased to announce the preliminary results of its transferable rights offering (the "Offering") which expired on November 6, 2020 (the "Expiration Date").  In the Offering, the Fund received subscription requests for 575,813 shares of common stock from rights holders. Accordingly, the Fund expects to issue up to 575,813 new common shares for these subscriptions, pending the receipt of payment for "delivery-guaranteed" subscriptions, on or about November 13, 2020.  Gross proceeds from the Offering are expected to total approximately $8,107,447, before expenses. 

The foregoing numbers are estimates only. The Fund will announce the final results of the Rights Offering in a press release on or about November 11, 2020.

The Offering's final subscription price was determined to be $14.08 per share. The subscription price was established by the Fund's Board of Directors pursuant to the terms of the Offering, and based upon the formula equal to 95% of the Fund's reported net asset value per share on the Expiration Date. The final subscription price is lower than the original estimated subscription price of $14.18 per share. Accordingly, any excess payments will be returned to subscribing rights holder as soon as practicable, in accordance with the prospectus supplement and accompanying prospectus, filed with the Securities and Exchange Commission on September 29, 2020 and supplemented on October 20, 2020.

This press release shall not constitute an offer to sell or constitute a solicitation of an offer to buy. Investors should read the prospectus supplement and accompanying prospectus 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 or the Fund's annual report or semi-annual report, each of which contains this and other information about the Fund, visit www.rivernorthcef.com or call 855.830.1222. Please read them carefully before investing.

RiverNorth Opportunities Fund, Inc.

The investment objective of the Fund is total return consisting of capital appreciation and current income. The Fund had approximately $140.3 million of net assets and 9.4 million shares of common stock outstanding as of September 30, 2020.

The Fund is a closed-end fund and does not continuously issue stock for sale as open-end mutual funds do. The Fund is trading 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. ALPS Advisors, Inc. is the investment adviser to the Fund. RiverNorth Capital Management, LLC is the investment sub-adviser to the Fund. RiverNorth is not affiliated with ALPS or any of its affiliates.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology. Additional information about SS&C SSNC is available at www.ssctech.com.

About ALPS Advisors

ALPS Advisors, Inc., a wholly-owned subsidiary of SS&C Technologies, Inc., is a leading provider of investment products for advisors and institutions. Headquartered in Denver, CO with over $12.14 billion under management as of September 30, 2020, ALPS Advisors is an open architecture boutique investment manager offering portfolio building blocks, active insight and an unwavering drive to guide clients to investment outcomes across sustainable income, thematic and alternative growth strategies. For more information, visit www.alpsfunds.com/.

RiverNorth Capital Management, LLC

RiverNorth is an investment management firm founded in 2000 that specializes in opportunistic strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is the manager to multiple registered and private funds.

ALPS Portfolio Solutions Distributor, Inc., FINRA Member.

ALPS Portfolio Solutions Distributor, Inc., ALPS Distributors, Inc. and ALPS Advisors, Inc. are affiliated.

NOT FDIC INSURED | May Lose Value | No Bank Guarantee

SOURCE RiverNorth Opportunities Fund, Inc