Company: RIV
Filing Date: 2025-05-21
Form Type: 424B5
Source: 0001398344-25-009946
Chunk: 16

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-05-21
Form: 424B5
Chunk 16
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 of return may be greater or less than the hypothetical 5% annual return shown in the example.                                 |

The purpose of the table and the
example above is to help investors understand the fees and expenses that they, as Common Stockholders, would bear directly or indirectly.
For additional information with respect to the Fund’s expenses, see “Management of the Fund” on page 67 of the accompanying
Prospectus.

| S-6 |

<div align='center'>MARKET AND NET ASSET VALUE INFORMATION</div>

The Fund’s Common Shares
are listed on the NYSE under the symbol “RIV.” The Fund’s Common Shares commenced trading on the NYSE in December 2015.

The Fund’s Common Shares
have traded both at a premium and a discount to NAV. The Fund cannot predict whether the Common Shares will trade in the future at a premium
or discount to NAV. The provisions of the 1940 Act generally require that the public offering price of Common Shares (less any underwriting
commissions and discounts) must equal or exceed the NAV per share of a company’s common stock (calculated within 48 hours of pricing).
The Fund’s issuance of Common Shares may have an adverse effect on prices in the secondary market for the Fund’s Common Shares
by increasing the number of Common Shares available, which may put downward pressure on the market price for the Fund’s Common Shares.
Shares of common stock of closed-end investment companies frequently trade at a discount from NAV. See “Risks - Market Discount”
on page 46 of the accompanying Prospectus.

The following table shows, for
each fiscal quarter since the quarter ended January 31, 2020: (i) high and low NAVs per share of common stock, (ii) the high and low sale
prices per share of common stock, as reported in the consolidated transaction reporting system, and (iii) the percentage by which the
Common Shares traded at a premium over, or discount from, the high and low NAVs per shares of common stock. The Fund’s NAV per Common
Share is determined on a daily basis. See “Net Asset Value” on page 69 of the accompanying Prospectus for information as
to the determination of the Fund’s NAV.

|      | Quarter Ended |              |     | High | Market Price(1) |     | Low |       |     | Market 
 High   | NAV(2) |     | Market 
 Low    |       |     | Market 
 High   | Market Premium