Company: RIV
Filing Date: 2025-05-21
Form Type: 424B5
Source: 0001398344-25-009946
Chunk: 5

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-05-21
Form: 424B5
Chunk 5
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 is not making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should not assume that the information provided by this Prospectus and any related Prospectus Supplement is accurate as of any date other than the date on the front of this Prospectus and any related Prospectus Supplement. The Fund’s business, financial condition and results of operations may have changed since that date.

<div align='center'>CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS</div>

This Prospectus Supplement, the
accompanying Prospectus and statement of additional information, including documents incorporated by reference, contain “forward-looking
statements.” Forward-looking statements can be identified by the words “may,” “will,” “intend,”
“expect,” “estimate,” “continue,” “plan,” “anticipate,” and similar terms
and the negative of such terms. By their nature, all forward-looking statements involve risks and uncertainties, and actual results could
differ materially from those contemplated by the forward-looking statements. Several factors that could materially affect the Fund’s
actual results are the performance of the portfolio of securities the Fund holds, the price at which the Fund’s Common Shares will
trade in the public markets and other factors discussed in the Fund’s periodic filings with the SEC. Currently known risk factors
that could cause actual results to differ materially from the Fund’s expectations include, but are not limited to, the factors described
in the “Risks” section of the accompanying Prospectus. The Fund urges you to review carefully that section for a more detailed
discussion of the risks of an investment in the Fund’s securities.

Although the Fund believes that
the expectations expressed in the Fund’s forward-looking statements are reasonable, actual results could differ materially from
those projected or assumed in the Fund’s forward-looking statements. The Fund’s future financial condition and results of
operations, as well as any forward-looking statements, are subject to change and are subject to inherent risks and uncertainties, such
as those disclosed in the “Risks” section of the accompanying Prospectus. All forward-looking statements contained or incorporated
by reference in this Prospectus Supplement or the accompanying Prospectus are made as of the date of this Prospectus Supplement or the
accompanying Prospectus, as the case may be. Except for the Fund’s ongoing obligations under the federal securities laws, the Fund
does not intend, and the Fund undertakes no obligation, to update any forward-looking statement.

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