Company: RIV
Filing Date: 2025-09-08
Form Type: 424B2
Source: 0001398344-25-017856
Chunk: 55

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-08
Form: 424B2
Chunk 55
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 from that presented in the Fund’s financial highlights.                                                                               |

<div align='center'>27</div>

| (8) | The example does not include sales load or estimated offering costs. The example should not be considered a representation of future expenses. 
 The example assumes that 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 a dividend rate and represents dividends           
 paid on Preferred Shares. 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 purpose of the table and the
example above is to help investors understand the fees and expenses that they, as Common Shareholders, would bear directly or indirectly.

<div align='center'>28

FINANCIAL HIGHLIGHTS</div>

The information in the following table shows selected data for a share outstanding throughout the periods listed below. The information for the periods ended June 30, 2024, July 31, 2023, July 31, 2022, July 31, 2021, July 31, 2020 and July 31, 2019 is derived from the Fund’s financial statements audited by Cohen & Company, Ltd. ("Cohen"), an independent registered public accounting firm, whose report on the financial statements and the financial highlights is contained in the Fund’s annual report (“Annual Report”) for the year ended June 30, 2024 contained in the Fund’s Form N-CSRfiled with the SEC on September 6, 2024. The Annual Report is incorporated by reference into this Prospectus and is available from the Fund upon request. The Fund’s “Financial Highlights” contained in the following document filed by the Fund with the SEC, is also hereby incorporated by reference into this Prospectus: the unaudited semi-annual report for the six-months ended December 31, 2024 contained in the Fund's Form N-CSR filed with the SEC on March 7, 2025.

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