Company: RIV
Filing Date: 2025-05-21
Form Type: 424B5
Source: 0001398344-25-009946
Chunk: 20

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-05-21
Form: 424B5
Chunk 20
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 liabilities, including liabilities under the Securities Act. The Distributor has agreed to indemnify
the Sub-Placement Agent against certain civil liabilities, including liabilities under the Securities Act.

The offering of Common Shares pursuant
to the Distribution Agreement will terminate upon the earlier of (1) the sale of all Common Shares subject to the Distribution Agreement
or (2) the termination of the Distribution Agreement. The Distribution Agreement may be terminated at any time, without the payment of
any penalty, by the Fund or by the Distributor, on sixty days’ written notice to the other party.

The Common Shares may not be sold
through the Distributor or the Sub-Placement Agent without delivery or deemed delivery of this Prospectus Supplement and the accompanying
Prospectus describing the method and terms of the offering of the Common Shares.

The Sub-Placement Agent, its affiliates
or their respective employees hold or may hold in the future, directly or indirectly, investment interests in the Fund. The interests
held by the Sub-Placement Agent, its affiliates or their respective employees are not attributable to, and no investment discretion is
held by, the Sub-Placement Agent, its affiliates or their respective affiliates.

The principal business address
of ALPS Distributors, Inc. is 1290 Broadway, Suite 1000, Denver, Colorado 80203. The principal business address of UBS Securities LLC
is 1285 Avenue of the America, New York, New York 10019.

<div align='center'>LEGAL MATTERS</div>

Certain legal matters in connection
with the Common Shares will be passed upon for the Fund by Faegre Drinker Biddle & Reath LLP. Faegre Drinker Biddle & Reath LLP
may rely as to certain matters of Maryland law on the opinion of Shapiro Sher Guinot & Sandler, P.A.

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<div align='center'>ADDITIONAL INFORMATION</div>

The Fund will be subject to the
informational requirements of the Exchange Act and the 1940 Act and in accordance therewith files reports and other information with the
SEC. The SEC maintains a web site at sec.gov containing reports, proxy and information statements and other information regarding registrants,
including the Fund, that file electronically with the SEC.

This Prospectus Supplement and
accompanying Prospectus constitutes part of a Registration Statement filed by the Fund with the SEC under the Securities Act and the 1940
Act. This Prospectus Supplement and accompanying Prospectus omits certain of the