Company: RIV
Filing Date: 2025-03-07
Form Type: N-CSRS
Source: 0001398344-25-005090
Chunk: 5

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-03-07
Form: N-CSRS
Chunk 5
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     | $ |                            24.41 |      |     |   |                                – |      |     |   |                                – |      |     |   |                  – |      |

See Notes to Financial Statements.

RiverNorth Opportunities Fund, Inc.

| Financial Highlights | For a common share outstanding throughout the periods presented. |

| (b) | Calculated using average common shares throughout the period. |

| (c) | Less than ($0.005) per share. |

| (d) | Represents the impact of the Fund's rights offering of 2,752,078 common shares in November 2022 at                                
 a subscription price per share based on a formula. For more details, please refer to Note 8 of the Notes to Financial Statements. |

| (e) | Represents the impact of the Fund's rights offering of 4,373,407 common shares in November 2021 at                                
 a subscription price per share based on a formula. For more details, please refer to Note 8 of the Notes to Financial Statements. |

| (f) | Represents the impact of the Fund's rights offering of 575,706 common shares in November 2020 at a                              
 subscription price per share based on a formula. For more details, please refer to Note 8 of the Notes to Financial Statements. |

| (g) | Represents the impact of the Fund's rights offering of 2,163,193 common shares in November 2019 at 
 a subscription price per share based on a formula.                                                 |

| (h) | Represents the impact of the Fund's rights offering of 1,790,000 common shares in November 2018. |

| (i) | Total investment return is calculated assuming a purchase of a common share at the opening on the first                                   
 day and a sale at closing on the last day of each period reported. For purposes of this calculation, dividends and distributions, if any, 
 are assumed to be reinvested at prices obtained under the Fund’s dividend reinvestment plan. Total investment returns do not reflect      
 brokerage commissions, if any. Total return on Market Price does not reflect any sales load paid by investors. Periods less than one year 
 are not annualized.                                                                                                                       |

| (j) | Not annualized. |

| (k) | The ratios exclude the impact of income and expenses of the underlying funds in which the Fund invests                                 
 as represented in the Schedule of Investments. The expense ratio and net investment income ratio do