Company: RFMZ
Filing Date: 2025-05-21
Form Type: 424B5
Source: 0001398344-25-009954
Chunk: 4

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-05-21
Form: 424B5
Chunk 4
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of beneficial interests: short-term floating rate notes (“TOB Floaters”), which are sold to third party investors, and residual
interest municipal tender option bonds (“TOB Residuals”), which are generally issued to the Fund. The Fund may invest in both
TOB Floaters and TOB Residuals, including TOB Floaters and TOB Residuals issued by the same TOB Issuer. The Fund may not invest more than
5% of its Managed Assets in any single TOB Issuer. The Fund does not currently intend to invest in TOB Residuals issued by a TOB Issuer
that was not formed for the Fund, although it reserves the right to do so in the future. See “Use of Leverage—Tender Option
Bonds” in the accompanying Prospectus.

An investment in the Fund may
not be appropriate for all investors. There can be no assurance that the Fund will achieve its investment objectives. See “Investment
Objectives, Strategies and Policies” in the accompanying Prospectus for additional investment policies of the Fund.

The Fund’s NAV will vary
and its distribution rate may vary and both may be affected by numerous factors, including changes in the market spread over a specified
benchmark, market interest rates and performance. Fluctuations in NAV may be magnified as a result of the Fund's use of leverage. An investment
in the Fund may not be appropriate for all investors.

Capitalized terms used herein
that are not otherwise defined shall have the meanings assigned to them in the accompanying Prospectus.

This Prospectus Supplement, together
with the accompanying Prospectus, sets forth concisely the information that you should know before investing. You should read the accompanying
Prospectus and Prospectus Supplement, which contain important information, before deciding whether to invest in the Fund’s Common
Shares. You should retain the accompanying Prospectus and Prospectus Supplement for future reference. A statement of additional information
(“SAI”), dated April 15, 2025, as supplemented from time to time, containing additional information, has been filed with the
SEC and is incorporated by reference in its entirety into this Prospectus Supplement and the accompanying Prospectus. This Prospectus
Supplement, the accompanying Prospectus and the SAI are part of a “shelf” registration statement that the Fund filed with
the SEC. This Prospectus Supplement describes the specific details regarding this offering, including the method of distribution. If information
in this Prospectus Supplement is inconsistent with