Company: RIV
Filing Date: 2025-05-21
Form Type: 424B5
Source: 0001398344-25-009946
Chunk: 29

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-05-21
Form: 424B5
Chunk 29
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 Fund and the Underlying Funds may invest in interest rate, index, total return and currency swap agreements.                
 All of these agreements are considered derivatives. Swaps could result in losses if interest or foreign currency exchange rates        
 or credit quality changes are not correctly anticipated by the Adviser or Underlying Fund manager. Total return swaps could result     
 in losses if the reference index, security, or investments do not perform as anticipated. Total return swaps involve an enhanced       
 risk that the issuer or counterparty will fail to perform its contractual obligations. Total return swaps may effectively add          
 leverage to the Fund’s portfolio because the Fund would be subject to investment exposure on the full notional amount of               
 the swap. To the extent the Fund or an Underlying Fund enters into a total return swap on equity securities, the Fund or an Underlying 
 Fund will receive the positive performance of a notional amount of such securities underlying the total return swap. In exchange,      
 the Fund or the Underlying Fund will be obligated to pay the negative performance of such notional amount of securities. Therefore,    
 the Fund or the Underlying Fund assumes the risk of a substantial decrease in the market value of the equity securities. The use       
 of swaps may not always be successful; using them could lower Fund total return, their prices can be highly volatile, and the          
 potential loss from the use of swaps can exceed the Fund’s initial investment in such instruments. Some, but not all, swaps            
 may be cleared, in which case a central clearing counterparty stands between each buyer and seller and effectively guarantees          
 performance of each contract, to the extent of its available resources for such purpose. As a result, the counterparty risk is         
 now shifted from bilateral risk between the parties to the individual credit risk of the central clearing counterparty. Even in        
 such case, there can be no assurance that a clearing house, or its members, will satisfy the clearing house’s obligations              
 to the Fund or an Underlying Fund.                                                                                                     |

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|                    | Warrants                                                                                                                          
 Risks. Warrants are securities giving the holder the right, but not the obligation, to buy the stock of an issuer                 
 at a given price (generally higher than the value of the stock at the time of issuance) during a specified period or perpetually. 
 Warrants do not carry with them the right to dividends or voting rights with respect to the securities that they entitle          
 their holder to purchase and they do not represent any rights in the