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WEST PALM BEACH, Fla. - RiverNorth Opportunities Fund, Inc. (NYSE:RIV), a fund delivering a substantial 12.4% dividend yield and showing strong performance with a 17.2% year-to-date return according to InvestingPro, announced Monday that its Board of Directors has authorized a transferable rights offering that will allow existing stockholders to purchase additional shares of the fund’s common stock.
Stockholders of record as of September 11, 2025, will receive one right for each share of common stock held. For every three rights, holders can purchase one new share of the fund’s common stock.
The subscription price will be set at 92.5% of the reported net asset value or 95% of the market price per share, whichever is higher on the expiration date of October 6, 2025. The market price will be determined based on the average of the last reported sales prices on the NYSE for the five trading days preceding the expiration date.
The rights are expected to be listed and tradable on the New York Stock Exchange under the ticker symbol RIV.RT. Stockholders who fully exercise their initial rights will be entitled to purchase additional shares that remain unsubscribed.
According to the press release, stockholders who exercise their rights will not receive distributions payable in September 2025 on the newly issued shares but will be eligible for October 2025 distributions.
As of July 31, 2025, the fund had approximately $268.5 million in net assets and 21.5 million shares of common stock outstanding.
The rights offering will be made through the fund’s shelf registration statement on file with the Securities and Exchange Commission, with subscription certificates expected to be mailed to eligible stockholders after the record date.
RiverNorth Opportunities Fund is a closed-end fund focused on total return through capital appreciation and current income.
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