Company: RIV
Filing Date: 2025-09-08
Form Type: 424B2
Source: 0001398344-25-017856
Chunk: 127

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-08
Form: 424B2
Chunk 127
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’s Board to increase the Fund’s authorized capital stock
or any class or series thereof without shareholder approval, may be used by the Fund’s Board consistent with its duties
to deter attempts to gain control of the Fund. Further, the Board could authorize the issuance of Preferred Shares with terms
and conditions that could have the effect of discouraging a takeover or other transaction that some of the Fund’s shareholders
might believe to be in their best interests.

Anti-Takeover Provisions of Maryland Law

Maryland Business Combination Act

The provisions of the Maryland Business Combination Act (the “MBCA”) do not apply to a closed-end investment company, such as the Fund, unless it has affirmatively elected to be subject to the MBCA by a resolution of its board of directors. To date, the Fund has not made such an election but may make such an election under Maryland law at any time. Any such election, however, could be subject to certain of the 1940 Act limitations discussed below under “Maryland Control Share Acquisition Act” and would not apply to any person who had become an interested stockholder (as defined below) before the time that the resolution was adopted.

Under the MBCA, “business combinations” between a Maryland corporation and an interested stockholder or an affiliate of an interested stockholder are prohibited for five years after the most recent date on which the interested stockholder becomes an interested stockholder. These business combinations include a merger, consolidation, share exchange, or, in circumstances specified in the MBCA, an asset transfer or issuance or reclassification of equity securities. An interested stockholder is defined as:

| ● | any                                                                                       
 person who beneficially owns ten percent or more of the voting power of the corporation’s 
 shares; or                                                                                |

A person is not an interested stockholder under the MBCA if the board of directors approved in advance the transaction by which he otherwise would have become an interested stockholder. However, in approving a transaction, the board of directors may provide that its approval is subject to compliance, at or after the time of approval, with any terms and conditions determined by the board.

After the five-year prohibition, any business combination between the Maryland corporation and an interested stockholder generally must be recommended by the board of directors of the corporation and approved by the affirmative vote of at least:

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| ● | 80%                                                                                  
 of the votes entitled to be cast by holders of outstanding shares of voting stock of 
 the corporation;