Company: RIV
Filing Date: 2025-03-21
Form Type: N-2/A
Source: 0001398344-25-005840
Chunk: 13

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-03-21
Form: N-2/A
Chunk 13
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 the estimated “Other Expenses”               
 set forth in the table are accurate and that all dividends and distributions are reinvested at net asset value and that the Fund is engaged 
 in leverage of 27.12% of Managed Assets, assuming interest and fees on leverage of 6.00%, including the unused borrowing fee paid on the    
 line of credit for the BNP Facility (defined below), as well as the Fund’s continued use of Preferred Shares. The interest and fees         
 on leverage is expressed as an interest rate. Actual expenses may be greater or less than those shown. Moreover, the Fund’s actual          
 rate of return may be greater or less than the hypothetical 5% annual return shown in the example.                                          |

The example should not be considered a representation of future expenses. Actual expenses may be greater or less than those assumed.

| * | The applicable prospectus supplement to be used in connection with any sales of Common Shares                                         
 or Preferred Shares will set forth any applicable sales load and the estimated offering expenses borne by the Fund under an Offering. |

| (1) | There will be no brokerage                                                                                                             
 charges with respect to Common shares issued directly by the Fund under the dividend reinvestment plan. You will pay brokerage charges 
 in connection with open market purchases or if you direct the plan agent to sell your Common Shares held in a dividend reinvestment    
 account.                                                                                                                               |

| (2) | The                                                                                                                                   
 management fee paid by the Fund to RiverNorth Capital Management, LLC (“RiverNorth” or the “Adviser”) is                              
 essentially an all-in fee structure (the “unified management fee”), including the fee paid to the Adviser for advisory,               
 supervisory, administrative, shareholder servicing and other services. However, the Fund (and not the Adviser) will be responsible    
 for certain additional fees and expenses, which are reflected in the table above, that are not covered by the unified management      
 fee. The unified management fee is charged as a percentage of the Fund’s average daily Managed Assets, as opposed to net assets.      
 With leverage, Managed Assets are greater in amount than net assets, because Managed Assets include assets attributable to the Fund’s 
 use of leverage created by its borrowings. In addition, the mark-to-market value of the Fund’s derivatives will be used for           
 purposes of calculating Managed Assets. The management fee of 1.30% of the Fund’s Managed Assets represents 1.77% of net assets       
 attributable to Common Shares assuming the use of leverage in