Company: RIV
Filing Date: 2025-03-07
Form Type: N-CSRS
Source: 0001398344-25-005090
Chunk: 22

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-03-07
Form: N-CSRS
Chunk 22
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 issued new shares of common stock at 95% of NAV per share for the October 2, 2020 rights offering, and at
97.5% of NAV per share for the October 1, 2021 rights offering. Offering costs were charged to paid-in-capital upon the exercise of the
rights.

The shares of common stock issued, subscription price,
and offering costs for the rights offerings were as follows:

| Record Date      |     | Expiration Date  |     | Shares of common stock issued |           |     | Subscription price |       |     | Gross Proceeds |            |     | Offering costs |         |     | Net Proceeds |            |
|:-----------------|:----|:-----------------|:----|:------------------------------|----------:|:----|:-------------------|------:|:----|:---------------|-----------:|:----|:---------------|--------:|:----|:-------------|-----------:|
| October 1, 2021  |     | November 5, 2021 |     |                               | 4,373,407 |     | $                  | 16.81 |     | $              | 73,516,972 |     | $              | 191,237 |     | $            | 73,325,735 |
| October 14, 2022 |     | November 8, 2022 |     |                               | 2,752,078 |     | $                  | 11.97 |     | $              | 32,942,374 |     | $              | 208,954 |     | $            | 32,733,420 |

On August 31, 2018, the Fund entered into a sales
agreement with Jones Trading Institutional Services LLC ("Jones"), under which the Fund may from time to time offer and sell
up to 3,300,000 of the Fund's common stock in an "at-the-market" offering. On November 11, 2020, the agreement with Jones was
terminated and the Fund entered into a distribution agreement with ALPS Distributors, Inc. (“ADI”), pursuant to which the
Fund was permitted to offer and sell up to 3,196,130 shares of the Fund's common stock from time to time through ADI. On September 17,
2021, the Fund entered into a new distribution agreement with ADI, as amended, pursuant to which the Fund was permitted to offer and sell