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

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-03-07
Form: N-CSRS
Chunk 25
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 $0.1277 |
| February 14, 2025 | February 14, 2025 | February 28, 2025 |     $0.1277 |

The Fund has performed an evaluation of subsequent
events through the date the financial statements were issued and has determined that no additional items require recognition or disclosure.

| 40 | www.rivernorth.com |

RiverNorth Opportunities Fund, Inc.

RiverNorth Opportunities Fund, Inc. (the “Fund”)
has a dividend reinvestment plan commonly referred to as an “opt-out” plan. Unless the registered owner of the Fund’s
shares of common stock (the “Common Shares”) elects to receive cash by contacting DST Systems, Inc. (the "Plan Administrator"),
all dividends and distributions declared on Common Shares will be automatically reinvested by the Plan Administrator for shareholders
in the Fund’s Automatic Dividend Reinvestment Plan (the “Plan”), in additional Common Shares. Common Shareholders who
elect not to participate in the Plan will receive all dividends and other distributions in cash paid by check mailed directly to the shareholder
of record (or, if the Common Shares are held in street or other nominee name, then to such nominee) by the Plan Administrator as dividend
disbursing agent. Participation in the Plan is completely voluntary and may be terminated or resumed at any time without penalty by notice
if received and processed by the Plan Administrator prior to the dividend record date; otherwise such termination or resumption will be
effective with respect to any subsequently declared dividend or other distribution. Such notice will be effective with respect to a particular
dividend or other distribution (together, a “Dividend”). Some brokers may automatically elect to receive cash on behalf of
Common Shareholders and may re-invest that cash in additional Common Shares.

Whenever the Fund declares a Dividend payable in cash,
non-participants in the Plan will receive cash and participants in the Plan will receive the equivalent in Common Shares. The Common Shares
will be acquired by the Plan Administrator for the participants’ accounts, depending upon the circumstances described below, either
(i) through receipt of additional unissued but authorized Common Shares from the Fund (“Newly Issued Common Shares”) or (ii)
by purchase of outstanding Common Shares on the open market (“Open-Market Purchases”) on the New York Stock Exchange (“NYSE”)
or elsewhere. If, on the payment date for any Dividend, the closing market price plus estimated brokerage commissions per Common Share
is equal to or