Company: RFMZ
Filing Date: 2025-05-21
Form Type: 424B5
Source: 0001398344-25-009954
Chunk: 9

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-05-21
Form: 424B5
Chunk 9
---
 the Fund’s preferred shares or through borrowings. For more information on the Adviser and the Subadviser, as well as the fees
and expenses, see “Summary of Fund Expenses” and “Management of the Fund” on pages 14 and 24 of the accompanying
Prospectus.

| S-1 |

The Offering

The Fund has entered into
a distribution agreement, dated May 20, 2025 (the “Distribution Agreement”) with ALPS Distributors, Inc. (the
“Distributor”) pursuant to which the Fund may offer and sell up to 4,000,000 Common Shares from time to time through the
Distributor, in transactions that are deemed to be “at the market” as defined in Rule 415 under the Securities Act of
1933, as amended (the “Securities Act”). The minimum price on any day at which Common Shares may be sold will not be
less than the then current net asset value (“NAV”) per Common Share plus the per Common Share amount of the commission
to be paid to the Distributor (the “Minimum Price”). The Fund and the Distributor will determine whether any sales of
Common Shares will be authorized on a particular day. The Fund and the Distributor, however, will not authorize sales of Common
Shares if the price per share of the Common Shares is less than the Minimum Price. The Fund and the Distributor may elect not to
authorize sales of Common Shares on a particular day even if the price per share of the Common Shares is equal to or greater than
the Minimum Price, or may only authorize a fixed number of Common Shares to be sold on any particular day. The Fund and the
Distributor will have full discretion regarding whether sales of Common Shares will be authorized on a particular day and, if so, in
what amounts.

The Distributor may enter into
sub-placement agent agreements with one or more selected dealers. The Distributor has entered into a sub-placement agent agreement, dated
May 20, 2025 (the “Sub-Placement Agent Agreement”) with UBS Securities LLC (the “Sub-Placement Agent”) relating to
the Common Shares offered by this Prospectus Supplement and the accompanying Prospectus. In accordance with the terms of the Sub-Placement
Agent Agreement, the Fund may offer and sell its Common Shares from time to time through the Sub-Placement Agent as sub-placement agent
for the offer and sale of its Common Shares. The Fund will compensate the Distributor with