Company: RFMZ
Filing Date: 2025-05-21
Form Type: 424B5
Source: 0001398344-25-009954
Chunk: 0

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-05-21
Form: 424B5
Chunk 0
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Filed Pursuant to Rule 424(b)(5)

File No. 333-281396

Prospectus Supplement
(To Prospectus dated April 15, 2025)

<div align='center'>RiverNorth Flexible Municipal Income Fund II, Inc.

Up to 4,000,000 Shares of Common Stock</div>

RiverNorth Flexible Municipal
Income Fund II, Inc. (the “Fund”) has entered into a distribution agreement, dated May 20, 2025 (the “Distribution
Agreement”) with ALPS Distributors, Inc. (the “Distributor”) relating to the Fund’s shares of common stock, $0.0001
par value per share (the “Common Shares”), offered by this Prospectus Supplement and the accompanying Prospectus. Under the
Investment Company Act of 1940, as amended (the “1940 Act”), the Fund may not sell any Common Shares at a price below the
current net asset value (“NAV”) of such Common Shares, exclusive of any distributing commission or discount. The Fund is a
diversified, closed-end management investment company which commenced investment operations in February 2021. The Fund’s primary
investment objective is current income exempt from regular U.S. federal income taxes (but which may be includable in taxable income for
purposes of the Federal alternative minimum tax). The Fund’s secondary investment objective is total return. There is no assurance
that the Fund will achieve its investment objectives.

The Fund’s Common Shares
are listed on the New York Stock Exchange (“NYSE”) under the symbol “RFMZ.” As of April 28, 2025, the last reported
sale price for the Fund’s Common Shares was $12.61 per Common Share. As of April 28, 2025, the last reported NAV for the Fund’s
Common Shares was $14.12.

Sales of the Fund’s Common
Shares, if any, under this Prospectus Supplement and the accompanying Prospectus may be made in negotiated transactions or transactions
that are deemed to be “at the market” as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities
Act”), including sales made directly on the NYSE or sales made to or through a market maker other than on an exchange. The minimum
price on any day at which Common Shares may be sold will not be less than the then current NAV per Common Share plus the per Common Share
amount of the commission to be paid