Company: RIV
Filing Date: 2025-05-21
Form Type: 424B5
Source: 0001398344-25-009946
Chunk: 8

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-05-21
Form: 424B5
Chunk 8
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The Offering

The Fund has entered into a distribution
agreement, dated May 20, 2025 (the “Distribution Agreement”) with ALPS Distributors, Inc. (the “Distributor”), pursuant
to which the Fund may offer and sell up to 15,000,000 Common Shares from time to time through the Distributor, in transactions that are
deemed to be “at the market” as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”).
This amount represents Common Shares previously registered on Form N-2 (Reg. No. 333-257554 and Reg. No. 333-274473) that are unsold and
are being carried forward as permitted by Rule 415(a)(6) and Rule 457(p) under the Securities Act. The minimum price on any day at which
Common Shares may be sold will not be less than the then current net asset value (“NAV”) per Common Share plus the per Common
Share amount of the commission to be paid to the Distributor (the “Minimum Price”). The Fund and the Distributor will determine
whether any sales of Common Shares will be authorized on a particular day. The Fund and the Distributor, however, will not authorize sales
of Common Shares if the price per share of the Common Shares is less than the Minimum Price. The Fund and the Distributor may elect not
to authorize sales of Common Shares on a particular day even if the price per share of the Common Shares is equal to or greater than the
Minimum Price, or may only authorize a fixed number of Common Shares to be sold on any particular day. The Fund and the Distributor will
have full discretion regarding whether sales of Common Shares will be authorized on a particular day and, if so, in what amounts.

The Distributor may enter
into sub-placement agent agreements with one or more selected dealers. The Distributor has entered into a sub-placement agent
agreement, dated May 20, 2025 (the “Sub-Placement Agent Agreement”) with UBS Securities LLC (the “Sub-Placement
Agent”), relating to the Common Shares offered by this Prospectus Supplement and the accompanying Prospectus. In accordance
with the terms of the Sub-Placement Agent Agreement, the Fund may offer and sell its Common Shares from time to time through the
Sub-Placement Agent as sub-placement agent for the offer and sale of its Common Shares. The Fund will compensate the Distributor