Company: RIV
Filing Date: 2025-05-21
Form Type: 424B5
Source: 0001398344-25-009946
Chunk: 11

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-05-21
Form: 424B5
Chunk 11
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 so, in what amounts.

| S-3 |

The following table sets forth
the Fund’s capitalization:

| ● | on a pro forma as adjusted basis to reflect (1) the assumed sale of 15,000,000 of the Fund’s Common Shares at $11.30 per share               
 (the last reported sale price of the Fund’s Common Shares on NYSE on April 28, 2025) in an offering under this Prospectus Supplement         
 and the accompanying Prospectus, and (2) the investment of net proceeds assumed from such offering in accordance with the Fund’s             
 investment objectives and policies, after deducting the assumed aggregate commission of $1,695,000 (representing an estimated commission     
 paid to the Distributor of 1.00% of the gross sales price per share in connection with the sale of Common Shares effected by the Distributor 
 in each offering) and estimated offering costs payable by the Fund of $168,238.                                                              |

|                                                                                                                            |     | Actual as of      
 December 31, 2024 
 (unaudited)       |             |   |     | As Adjusted 
 (unaudited) |             |   |
|:---------------------------------------------------------------------------------------------------------------------------|:----|:------------------|------------:|:--|:----|:------------|------------:|:--|
| Preferred Shares, $0.0001 par value per share, 3,910,000 shares authorized, 3,910,000 outstanding (actual and as adjusted) |     | $                 |  97,750,000 |   |     | $           |  97,750,000 |   |
| Shareholders’ equity applicable to Common Shares:                                                                          |     |                   |             |   |     |             |             |   |
| Common Shares, $0.0001 par value per share, 37,500,000 shares authorized                                                   |     |                   |  21,472,248 |   |     |             |  36,472,248 |   |
| Paid-in capital*                                                                                                           |     | $                 | 265,730,733 |   |     | $           | 433,367,495 |   |
| Total distributable earnings                                                                                               |     | $                 |  (3,043,866 | ) |     | $           |  (3,043,866 | ) |
| Net assets applicable to Common Shares                                                                                     |     | $                 |