Company: RIV
Filing Date: 2025-09-05
Form Type: N-CSR
Source: 0001398344-25-017710
Chunk: 70

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-05
Form: N-CSR
Chunk 70
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 Fund or the Underlying Funds. In particular, these agencies are empowered to promulgate a variety of new rules pursuant to financial reform legislation in the United States. There can be no assurance that future legislation, regulation or deregulation will not have a material adverse effect on the Fund or will not impair the ability of the Fund to achieve its investment objective. The Fund and the Underlying Funds also may be adversely affected by changes in the enforcement or interpretation of existing statutes and rules by these governmental regulatory authorities or self regulatory organizations.

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RiverNorth Opportunities Fund, Inc.

Management Risks The Adviser’s judgments about the attractiveness, value and potential appreciation of a particular asset class or individual security in which the Fund invests may prove to be incorrect and there is no guarantee that the Adviser’s judgment will produce the desired results. Similarly, the Fund’s investments in Underlying Funds are subject to the judgment of the Underlying Funds’ managers which may prove to be incorrect. In addition, the Adviser will have limited information as to the portfolio holdings of the Underlying Funds at any given time. This may result in the Adviser having less ability to respond to changing market conditions. The Fund may allocate its assets so as to under-emphasize or over-emphasize ETFs or other investments under the wrong market conditions, in which case the Fund’s NAV may be adversely affected.

Market Events Risks. The Fund may experience
increased volatility, illiquidity, or other potentially adverse effects in response to changing market conditions, inflation, changes
in interest rates, lack of liquidity in the bond or equity markets, volatility in the equity markets, market disruptions caused by local
or regional events such as war, acts of terrorism, the spread of infectious illness (including epidemics and pandemics) or other public
health issues, financial institution instability, trade disruption, recessions or other events or adverse investor sentiment or other
political, regulatory, economic and social developments, and developments that impact specific economic sectors, industries or segments
of the market. Additionally, from time to time, uncertainty regarding the status of negotiations in the U.S. government to increase the
statutory debt ceiling could impact the creditworthiness of the U.S. and could impact the liquidity of the U.S. government securities
markets and ultimately the Fund. These risks may be magnified if certain events or developments adversely interrupt the global supply
chain; in these and other circumstances, such risks might affect companies worldwide due to