Company: RIV
Filing Date: 2025-02-18
Form Type: N-2/A
Source: 0001398344-25-003061
Chunk: 88

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-02-18
Form: N-2/A
Chunk 88
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0 Act, which generally requires that shares of the fund have equal voting rights. However, in May 2020, the Staff withdrew its previous position and has stated that it would not recommend enforcement action to the SEC against a closed-end fund for opting into a control share statute if the decision to do so by the fund’s board was taken with reasonable care on a basis consistent with other applicable duties and laws and the duty to the fund and its stockholders generally. The Staff’s current position reflects only the views of the Staff and is not made part of any SEC rule, regulation or court interpretation or ruling. The Board of Directors reserves the right to consider and determine, in the future, whether the Fund will opt in and be subject to the MCSAA.

Maryland Unsolicited Takeovers Act

Subtitle 8 of Title 3 of the Maryland General Corporation Law permits a Maryland corporation with a class of equity securities registered under the Exchange Act and at least three independent directors to elect to be subject, by provision in its charter or bylaws or a resolution of its board of directors and notwithstanding any contrary provision in the charter or bylaws, to any or all of five provisions:

| ● | a                 
 classified board; |

| ● | a                                                    
 two-thirds vote requirement for removing a director; |

| ● | a                                                                            
 requirement that the number of directors be fixed only by vote of directors; |

| ● | a                                                                                           
 requirement that a vacancy on the board be filled only by the remaining directors and       
 for the remainder of the full term of the class of directors in which the vacancy occurred; 
 and                                                                                         |

| ● | a                                                                          
 majority requirement for the calling of a special meeting of stockholders. |

The charter of a corporation may contain a provision or the board of directors may adopt a provision that prohibits the corporation from electing to be subject to any or all of the provisions of Subtitle 8.

The Subtitle 8 elections are not currently relevant to the Fund, because provisions in the Fund’s Charter and Bylaws unrelated to Subtitle 8 (except with respect to Board vacancies) already make the Fund subject to each of the five provisions set forth above.

<div align='center'>REPURCHASE OF SHARES</div>

Shares of closed-end funds (like the Fund) often trade at a discount to NAV, although it is possible that they may trade at a premium above NAV. The market price of the Common Shares will be determined by such factors as relative demand for and supply of shares in the market, the