Company: RIV
Filing Date: 2025-09-08
Form Type: 424B2
Source: 0001398344-25-017856
Chunk: 0

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-08
Form: 424B2
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Filed Pursuant to Rule 424(b)(2)

Registration No. 333-283156

Prospectus Supplement
(to Prospectus dated March 31, 2025)

<div align='center'>RiverNorth Opportunities Fund, Inc.

7,158,000 Shares of Common Stock

Subscription Rights for Shares of Common Stock

7,158,000 Shares of Common Stock Issuable Upon Exercise of Rights to Subscribe for Such Shares</div>

RiverNorth Opportunities Fund, Inc. (the “Fund”)
is issuing transferable subscription rights (“Rights”) to its stockholders of record as of September 11, 2025 (the “Record
Date” and such stockholders, “Record Date Stockholders”). These Rights will allow Record Date Stockholders to subscribe
for new shares of common stock, $0.0001 par value per share (the “Common Shares”), of the Fund in an aggregate amount of up
to 7,158,000 Common Shares (the “Offer”). Record Date Stockholders will receive one Right for each Common Share held on the
Record Date. For every three Rights held, a Record Date Stockholder is entitled to purchase one Common Share of the Fund (the “Primary
Subscription”).

Stockholders of record on the Record Date
who fully exercise their Rights in the Primary Subscription will be entitled to subscribe for additional Common Shares (“Over-Subscription
Shares”), subject to the limitations set forth in this Prospectus Supplement (the “Over-Subscription Privilege” or the
“Over-Subscription”). If enough Over-Subscription Shares are available, all such requests will be honored in full. If the
requests for Over-Subscription Shares exceed the Over-Subscription Shares available, the available Over-Subscription Shares will be allocated
pro rata to stockholders who over-subscribed based on the number of Rights originally issued to them.

The number of Rights to be issued to a Record
Date Stockholder will be rounded up to the nearest number of Rights evenly divisible by three. Fractional shares will not be issued upon
the exercise of Rights. Accordingly, new Common Shares may be purchased only pursuant to the exercise of Rights in integral multiples
of three.

The Rights are transferable and will be admitted
for trading on the New York Stock Exchange (“NYSE”) under the symbol “RIV.RT” during the course of the Offer.
The Fund’s Common Shares are currently listed, and the new Common Shares issued in this Offer will also be listed, on the NYSE under
the symbol “