Company: RIV
Filing Date: 2025-09-05
Form Type: N-CSR
Source: 0001398344-25-017710
Chunk: 35

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-05
Form: N-CSR
Chunk 35
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 concerning the
Plan should be directed to the Plan Administrator at Mail Stop: RiverNorth Opp, 430 West 7th Street, Kansas City, MO 64105-1407.

RiverNorth Opportunities Fund, Inc.

The following information in this annual report
is a summary of certain information about the Fund and changes since the Fund’s most recent annual report as of July 31, 2024 (the
“prior disclosure date”). This information may not reflect all of the changes that have occurred since you purchased the Fund.

Summary of Fund Expenses

The following table shows estimated Fund expenses
as a percentage of net assets attributable to Common Shares. The purpose of the following table and the expense example below is to help
you understand the fees and expenses that you, as a Common Shareholder, would bear directly or indirectly. The expenses shown in the table
and related footnotes, along with the example, are based on the Fund’s capital structure as of June 30, 2025. Actual expenses may
be greater or less than those shown below.

| Shareholder Transaction Expenses                                                                                   |     | As a Percentage of Offering Price |   |    |
| Sales Load                                                                                                         |     |                                   | – | %* |
| Offering Expenses Borne by Common Shareholders of the Fund                                                         |     |                                   | – | %* |
| Dividend Reinvestment Plan Fees(1)                                                                                 |     |                                   | – | *  |
| Preferred Shares Offering Expenses Borne by the Fund (as a percentage of net assets attributable to Common Shares) |     |                                   | – | %* |

| Annual Expenses                              |     | As a Percentage of Net Assets Attributable to Common Shares (Assuming the Use of Leverage Equal to 26.68% of the Fund’s Managed Assets) |      |   |
| Management Fee(2)                            |     |                                                                                                                                         | 1.78 | % |
| Leverage Costs(3)(4)                         |     |                                                                                                                                         | 0.04 | % |
| Dividend and Interest Expense on Short Sales |     |                                                                                                                                         | 0.16 | % |
| Dividends on Preferred Shares(5)             |     |                                                                                                                                         | 2.19 | % |
| Other Expenses                               |     |                                                                                                                                         | 0.05 | % |
| Acquired Fund Fees and Expenses(6)           |     |                                                                                                                                         | 2.21 | % |
| Total Annual Expenses                        |     |