Company: RIV
Filing Date: 2025-09-08
Form Type: 424B2
Source: 0001398344-25-017856
Chunk: 41

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-08
Form: 424B2
Chunk 41
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 such period. The Fund’s ability to
maintain a stable level of distributions to stockholders will depend on a number of factors, including the stability of income received
from its investments and the costs of any leverage. As portfolio and market conditions change, the amount of dividends on the Fund’s
Common Shares could change. For federal income tax purposes, the Fund is required to distribute substantially all of its net investment
income each year to both reduce its federal income tax liability and to avoid a potential federal excise tax. The Fund intends to distribute
all realized net capital gains, if any, at least annually.

The Adviser has received an order granting
an exemption from Section 19(b) of the 1940 Act and Rule 19b-1 thereunder to permit the Fund, subject to certain terms and conditions,
to include realized long-term capital gains as a part of its regular distributions to Common Stockholders more frequently than would otherwise
be permitted by the 1940 Act (generally once per taxable year). The Adviser is not currently relying on the exemptive order, but has in
the past and may again in the future. To the extent that the Adviser relies on the exemptive order, the Fund will be required to comply
with the terms and conditions therein, which, among other things, requires the Fund to make certain disclosures to shareholders and prospective
shareholders regarding distributions, and would require the Fund’s Board to make determinations regarding the appropriateness of
use of the distribution policy. The exemptive order terms and conditions also require that the Fund may not make any public offering of
the Fund’s Common Shares other than (a) a rights offering below NAV to Common Stockholders; (b) an offering in connection with a
dividend reinvestment plan, merger, consolidation, acquisition, spin-off or reorganization of the Fund; or (c) an offering other than
an offering described in conditions (a) and (b) above, provided that, with respect to such other offering: (i) the Fund’s annualized
distribution rate for the six months ending on the last day of the month ended immediately prior to the most recent distribution record
date, expressed as a percentage of NAV as of the date, is no more than one percentage point greater than the Fund’s average annual
total return for the five-year period ending on the date; and (ii) the transmittal letter accompanying any registration statement filed
with the SEC in connection with such offering discloses