Company: RIV
Filing Date: 2025-02-18
Form Type: N-2/A
Source: 0001398344-25-003061
Chunk: 12

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-02-18
Form: N-2/A
Chunk 12
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 Fund Fees and Expenses reflects estimated operating expenses           
 of the Underlying Funds and transaction-related fees. Certain Underlying Funds in which the        
 Fund intends to invest generally charge a management fee of 1.00% to 2.00%, which are included     
 in “Acquired Fund Fees and Expenses,” as applicable. The Acquired Fund Fees and                    
 Expenses disclosed above, however, do not reflect any performance-based fees or allocations        
 paid by the Underlying Funds that are calculated solely on the realization and/or distribution     
 of gains, or on the sum of such gains and unrealized appreciation of assets distributed in-kind,   
 as such fees and allocations for a particular period may be unrelated to the cost of investing     
 in the Underlying Funds. Future Underlying Funds’ fees and expenses may be substantially           
 higher or lower because certain fees may be based on the performance of the Underlying Funds,      
 which may fluctuate over time. Acquired Fund Fees and Expenses are borne indirectly by the         
 Fund, but they will not be reflected in the Fund’s financial statements; and the information       
 presented in the table will differ from that presented in the Fund’s financial highlights.         |

Example (8)

The following example illustrates the expenses that you would pay on a $1,000 investment in Common Shares, assuming (1) that the Fund incurs total annual expenses of 6.84% of its net assets in years 1 through 10 and (2) a 5% annual return.

26

|                         |     | 1 year |    |     | 3 years |     |     | 5 years |     |     | 10 years |     |
|:------------------------|:----|:-------|---:|:----|:--------|----:|:----|:--------|----:|:----|:---------|----:|
| Total Expenses Incurred |     | $      | 68 |     | $       | 200 |     | $       | 327 |     | $        | 624 |

| (8) |     | The                                                                                             
 example does not include sales load or estimated offering costs. The example should not be      
 considered a representation of future expenses. The example assumes that the estimated “Other   
 Expenses” set forth in the table are accurate and that all dividends and distributions          
 are reinvested at net asset value and that the Fund is engaged in leverage of 26.45% of Managed 
 Assets, assuming interest and fees on leverage of 6