Company: RIV
Filing Date: 2025-09-08
Form Type: 424B2
Source: 0001398344-25-017856
Chunk: 43

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-08
Form: 424B2
Chunk 43
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 Matters.”

<div align='center'>LEGAL MATTERS</div>

Certain legal matters in connection with the
Common Shares will be passed upon for the Fund by Faegre Drinker Biddle & Reath LLP. Faegre Drinker Biddle & Reath LLP may rely
as to certain matters of Maryland law on the opinion of Shapiro Sher Guinot & Sandler, P.A.

<div align='center'>INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

Cohen & Company, Ltd. (“Cohen”),
located at 1350 Euclid Avenue, Suite 800, Cleveland, Ohio 44115, serves as the independent registered public accounting firm of the Fund
and will annually render an opinion on the financial statements of the Fund.

<div align='center'>ADDITIONAL INFORMATION</div>

The Fund will be subject to the informational
requirements of the Securities Exchange Act of 1934 and the 1940 Act and in accordance therewith files reports and other information with
the SEC. The SEC maintains a website at sec.gov containing reports, proxy and information statements and other information regarding
registrants, including the Fund, that file electronically with the SEC.

This Prospectus Supplement and accompanying
Prospectus constitutes part of a Registration Statement filed by the Fund with the SEC under the Securities Act and the 1940 Act. This
Prospectus Supplement and accompanying Prospectus omits certain of the information contained in the Registration Statement, and reference
is hereby made to the Registration Statement and related exhibits for further information with respect to the Fund and the Common Shares
offered hereby. Any statements contained herein concerning the provisions of any document are not necessarily complete, and, in each instance,
reference is made to the copy of such document filed as an exhibit to the Registration Statement or otherwise filed with the SEC. Each
such statement is qualified in its entirety by such reference. The complete Registration Statement may be obtained from the SEC upon payment
of the fee prescribed by its rules and regulations or free of charge through the SEC’s website (sec.gov).

| S-31 |

BASE PROSPECTUS

Filed Pursuant to Rule 424(b)(3)
File No. 333-283156

<div align='center'>PROSPECTUS DATED MARCH 31, 2025

RiverNorth Opportunities Fund, Inc.

$600,000,000

Shares of Common Stock

Shares of Preferred Stock

Subscription Rights for Shares of Common Stock

Subscription Rights for Shares of Preferred Stock