Company: RIV
Filing Date: 2025-02-18
Form Type: N-2/A
Source: 0001398344-25-003061
Chunk: 99

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-02-18
Form: N-2/A
Chunk 99
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 commodities or as otherwise permitted      
 by the 1940 Act and as interpreted or modified by regulatory authority having jurisdiction,   
 from time to time, or an exemption or other relief applicable to the Fund from the provisions 
 of the 1940 Act, as amended from time to time;                                                |

| (7) | With                                                                                         
 respect to 75% of the Fund’s total assets, purchase the securities of any issuer             
 (except obligations of the United States Government and its instrumentalities and securities 
 of other investment companies) if, as a result, (a) more than 5% of the Fund’s               
 total assets would be invested in the securities of that issuer, or (b) the Fund would       
 hold more than 10% of the outstanding voting securities of that issuer; or                   |

| (8) | make                                                                                      
 loans except as permitted under the 1940 Act and as interpreted or modified by regulatory 
 authority having jurisdiction, from time to time.                                         |

A fundamental policy may not be changed without the approval of a majority of the outstanding voting securities of the Fund which, under the 1940 Act and the rules thereunder and as used in this SAI, means the lesser of (1) 67% or more of the voting securities present at such meeting, if the holders of more than 50% of the outstanding voting securities of the Fund are present or represented by proxy, or (2) more than 50% of the outstanding voting securities of the Fund.

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Fundamental Investment Restriction (1)

The 1940 Act permits the Fund to borrow money in an amount up to one-third of its total assets (including the amount borrowed) less its liabilities (not including any borrowings but including the fair market value at the time of computation of any other senior securities then outstanding). The Fund may also borrow an additional 5% of its total assets without regard to the foregoing limitation for temporary purposes such as clearance of portfolio transactions. Practices and investments that may involve leverage but are not considered to be borrowings are not subject to the policy. For more information on leverage and the risks relating thereto, see “Risks-Structural Risks-Leverage Risks” in the Prospectus.

Fundamental Investment Restriction (2)

The ability of a closed-end fund to issue senior securities is severely circumscribed by complex regulatory constraints under the 1940 Act that restrict, for instance, the amount, timing, and form of senior securities