Company: RIV
Filing Date: 2025-10-08
Form Type: 497AD
Source: 0001398344-25-019031
Chunk: 0

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-10-08
Form: 497AD
Chunk 0
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<div align='center'>RiverNorth OpportunitIES Fund, INC.
Announces FINAL RESULTS OF Rights Offering</div>

West Palm Beach, FL– October 8, 2025
– RiverNorth Opportunities Fund, Inc. (the “Fund”) (NYSE: RIV) today announced the final results of its transferable
rights offering (the “Offering”). The Fund will issue a total of 5,899,015 new shares of common stock as a result of the
Offering, which closed on October 6, 2025 (the “Expiration Date”).

The subscription price of $11.95 per share in the
Offering was established on the Expiration Date based on a formula equal to 92.5% of the reported net asset value per share of common
stock. Gross proceeds received by the Fund, before any expenses of the Offering, are expected to total approximately $70.5 million.

This press release shall not constitute an offer
to sell or constitute a solicitation of an offer to buy.

<div align='center'>__________</div>

RiverNorth Opportunities Fund, Inc.

The investment objective of the Fund is total return
consisting of capital appreciation and current income. The Fund had approximately $275.3 million of net assets and 21.5 million shares
of common stock outstanding as of September 30, 2025.

The Fund is a closed-end fund and does not continuously
issue stock for sale as open-end mutual funds do. The Fund now trades in the secondary market. Investors wishing to buy or sell stock
need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market value.

Risk is inherent in all investing. Investing in any
investment company security involves risk, including the risk that you may receive little or no return on your investment or even that
you may lose part or all of your investment. Therefore, before investing in the shares of common stock, you should consider the risks
as well as the other information in the prospectus, annual report and semi-annual report.

Past performance is no guarantee of future results.

Investors should read the prospectus supplement and accompanying prospectus, when available, and consider the investment objective, risks, fees and expenses of the Fund carefully before investing. To obtain a copy of the prospectus supplement and accompanying prospectus, when available, or the Fund’s annual report or semi-annual report, each of which contains this and other information about the Fund,