Company: RIV
Filing Date: 2025-09-08
Form Type: 424B2
Source: 0001398344-25-017856
Chunk: 31

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-08
Form: 424B2
Chunk 31
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 of Rights who acquire Common Shares
through the Primary Subscription or pursuant to the Over-Subscription Privilege may choose between the following methods of payment:

| (1) | A subscription will be accepted by the Subscription Agent if, prior to 5:00 p.m., Eastern Time, on the Expiration Date, the Subscription Agent has received a written notice of guaranteed delivery from a bank, a trust company, or an NYSE member, guaranteeing delivery of: (i) payment for the Common Shares subscribed for in the Primary Subscription and additional Common Shares subscribed for pursuant to the Over-Subscription Privilege to the Subscription Agent based on the estimated Subscription Price of $11.71 per Common Share, and (ii) a properly completed and executed Subscription Certificate. |

| S-23 |

The Subscription Agent will not honor a notice
of guaranteed delivery if a properly completed and executed Subscription Certificate and full payment is not received by the Subscription
Agent by the close of business on the first Business Day after the Expiration Date. The notice of guaranteed delivery may be delivered
to the Subscription Agent in the same manner as Subscription Certificates at the addresses set forth above, or may be transmitted to the
Subscription Agent email transmission to canoticeofguarantee@computershare.com. Any transmission of other materials will not be accepted
and will not be considered a valid submission for the Offer. This e-mail transmission can only be used for the notice of guaranteed delivery.

| (2) | Alternatively, a holder of Rights can send the Subscription Certificate together with payment in the form of a personal check drawn upon a U.S. bank payable to the Subscription Agent. To be accepted, the payment, together with the executed Subscription Certificate, must be received by the Subscription Agent at the addresses noted above prior to 5:00 p.m., Eastern Time, on the Expiration Date. The Subscription Agent will deposit all checks received by it prior to the Expiration Date into a segregated account pending proration and distribution of the Common Shares issued pursuant to the Offer. The Subscription Agent will not accept cash as a means of payment for Common Shares issued pursuant to the Offer. |

EXCEPT AS OTHERWISE SET FORTH BELOW, A PAYMENT
PURSUANT TO THIS METHOD MUST BE IN UNITED STATES DOLLARS BY PERSONAL CHECK DRAWN UPON A U.S. BANK, MUST BE PAYABLE TO THE SUBSCRIPTION
AGENT, COMPUTERSHARE (ACTING ON BEHALF OF COMPUTERSHARE TRUST COMPANY, N.A.), AND MUST