Company: RIV
Filing Date: 2025-09-05
Form Type: N-CSR
Source: 0001398344-25-017710
Chunk: 39

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-05
Form: N-CSR
Chunk 39
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unds in order to seek potential acquisition opportunities. The Adviser has the flexibility to change the Fund’s asset allocation
based on its ongoing analysis of the equity, fixed income and alternative asset markets. The Adviser considers various quantitative and
qualitative factors relating to the domestic and foreign securities markets and economies when making asset allocation and security selection
decisions. While the Adviser continuously evaluates these factors, material shifts in the Fund’s asset class exposures will typically
take place over longer periods of time. In addition, the Fund, in seeking to achieve its investment objective, will not take activist
positions in the Underlying Funds or SPACs.

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RiverNorth Opportunities Fund, Inc.

Under normal market conditions, the Fund will
invest at least 80% of its Managed Assets in Underlying Funds and SPACs. “Managed Assets” means the total assets of the Fund,
including assets attributable to leverage, minus liabilities (other than debt representing leverage and any preferred stock that may be
outstanding). The Underlying Funds and SPACs in which the Fund invests will not include those that are advised or subadvised by the Adviser
or its affiliates. The Fund directly, and therefore Common Stockholders indirectly, will bear the expenses of the Underlying Funds and
SPACs.

Under normal market conditions: (i) no more than
80% of the Fund’s Managed Assets will be invested in “equity” Underlying Funds and SPACs; (ii) no more than 60% of the
Fund’s Managed Assets will be invested in “fixed income” Underlying Funds and SPACs; (iii) no more than 30% of the Fund’s
Managed Assets will be invested in “global equity” Underlying Funds and SPACs; (iv) no more than 15% of the Fund’s Managed
Assets will be invested in “emerging market equity” Underlying Funds; (v) no more than 30% of the Fund’s Managed Assets
will be invested in “high yield” (also known as “junk bond”) and “senior loan” Underlying Funds and
SPACs; (vi) no more than 15% of the Fund’s Managed Assets will be invested in “emerging market income” Underlying Funds
and SPACs; (vii) no more than 10% of the Fund’s Managed Assets will be invested in “real estate” Underlying Funds