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

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-05
Form: N-CSR
Chunk 25
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$65,000,000 credit agreement for margin financing with Pershing LLC, which was amended and restated as of March 20, 2022 (the "Pershing
Credit Agreement"). Per the Pershing Credit Agreement, the Fund may borrow at an interest rate of 0.85% plus the Overnight Bank Funding
Rate. The Pershing Credit Agreement does not have an expiration date. The Fund did not utilize the Pershing Credit Agreement for the year
ended June 30, 2025. There was no outstanding balance on the Pershing Credit Agreement as of June 30, 2025.

On March 9, 2023, the Fund entered into an additional
credit agreement with BNP Paribas (“BNP Credit Agreement”). The BNP Credit Agreement permits the Fund to borrow funds that
are collateralized by assets held at BNP Paribas pursuant to the agreement. Under the terms of the BNP Credit Agreement, the Fund may
borrow up to $25,000,000 bearing an interest rate of the Overnight Bank Funding Rate plus a fixed rate determined by the securities pledged
as collateral. Any unused portion of the BNP Credit Agreement is subject to a commitment fee of 0.50% of the unused portion of the facility
until a utilization of 80% or greater is met.

The Fund did not utilize the Pershing Credit Agreement
or the BNP Credit Agreement for the year ended June 30, 2025. There was no outstanding balance on the Pershing Credit Agreement or the
BNP Credit Agreement as of June 30, 2025.

7. CUMULATIVE PERPETUAL PREFERRED STOCK

At June 30, 2025, the Fund had issued and outstanding
3,910,000 shares of Series A Cumulative Perpetual Preferred Stock, listed under trading symbol RIVPRA on the NYSE, with a par value of
$0.0001 per share and a liquidation preference of $25.00 per share plus accrued and unpaid dividends (whether or not declared). The Fund
issued 3,910,000 shares of Series A Cumulative Perpetual Preferred Stock on April 20, 2022. The Series A Cumulative Perpetual Preferred
Stock is entitled to voting rights and a dividend at a rate of 6.00% per year, paid quarterly, based on the $25.00 liquidation preference
before the common stock is