Company: RIV
Filing Date: 2025-03-21
Form Type: N-2/A
Source: 0001398344-25-005840
Chunk: 183

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-03-21
Form: N-2/A
Chunk 183
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 such a case, we will abstain from making a voting decision and will forward all of the necessary proxy voting materials to the client to enable the client to cast the votes.

Notwithstanding the forgoing, the following policies will apply to investment company shares owned by a Fund. Under Section 12(d)(1) of the Investment Company Act of 1940, as amended, (the “1940 Act”), a fund may only invest up to 5% of its total assets in the securities of any one investment company, but may not own more than 3% of the outstanding voting stock of any one investment company or invest more than 10% of its total assets in the securities of other investment companies. However, Section 12(d)(1)(F) of the 1940 Act provides that the provisions of paragraph 12(d)(1) shall not apply to securities purchased or otherwise acquired by a fund if (i) immediately after such purchase or acquisition not more than 3% of the total outstanding stock of such registered investment company is owned by the fund and all affiliated persons of the fund; and (ii) the fund is not proposing to offer or sell any security issued by it through a principal underwriter or otherwise at a public or offering price which includes a sales load of more than 1½% percent. Therefore, each Fund (or the Adviser acting on behalf of the Fund) must comply with the following voting restrictions unless it is determined that the Fund is not relying on Section 12(d)(1)(F):

| - | when                                                                                    
 the Fund exercises voting rights, by proxy or otherwise, with respect to any investment 
 company owned by the Fund, the Fund will either                                         |

| - | seek                                                                              
 instruction from the Fund’s shareholders with regard to the voting of all proxies 
 and vote in accordance with such instructions, or                                 |

| - | vote                                                                                   
 the shares held by the Fund in the same proportion as the vote of all other holders of 
 such security.                                                                         |

PROXY VOTING GUIDELINES

Election of the Board of Directors

We believe that good corporate governance generally starts with a board composed primarily of independent directors, unfettered by significant ties to management, all of whose members are elected annually. We also believe that turnover in board composition promotes independent board action, fresh approaches to governance, and generally has a positive impact on shareholder value. We will generally vote in favor of non-incumbent independent directors.

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