Company: RIV
Filing Date: 2025-09-08
Form Type: 424B2
Source: 0001398344-25-017856
Chunk: 28

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-08
Form: 424B2
Chunk 28
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holders purchasing Rights in the secondary market that such Rights may not participate in the Over-Subscription Privilege.

The Fund will not offer or sell any Common
Shares that are not subscribed for during the Subscription Period or pursuant to the Over-Subscription Privilege.

Sale and Transferability of Rights

The value of the Rights, if any, will be reflected
by the market price of the Rights. Rights may be sold by individual holders or may be submitted to the Subscription Agent for sale. Any
Rights submitted to the Subscription Agent for sale must be received by the Subscription Agent on or before September 29, 2025, five Business
Days prior to the completion of the Subscription Period, due to normal settlement procedures.

Rights that are sold will not confer any right
to acquire any Common Shares in the Over-Subscription, and any Record Date Stockholder who sells any Rights initially issued to such Stockholder
will not be eligible to participate in the Over-Subscription Privilege.

The Rights evidenced by a single Subscription
Certificate may be transferred in whole by endorsing the Subscription Certificate for transfer in accordance with the accompanying instructions.
A portion of the Rights evidenced by a single Subscription Certificate (but not fractional Rights) may be transferred by delivering to
the Subscription Agent a Subscription Certificate properly endorsed for transfer, with instructions to register the portion of the Rights
evidenced thereby in the name of the transferee (and to issue a new Subscription Certificate to the transferee evidencing the transferred
Rights). In this event, a new Subscription Certificate evidencing the balance of the Rights will be issued to the Rights holder or, if
the Rights holder so instructs, to an additional transferee.

| S-21 |

Holders wishing to transfer all or a portion
of their Rights (but not fractional Rights) should allow at least five Business Days prior to the Expiration Date for (i) the transfer
instructions to be received and processed by the Subscription Agent, (ii) a new Subscription Certificate to be issued and transmitted
to the transferee or transferees with respect to transferred Rights, and to the transferor with respect to retained Rights, if any, and
(iii) the Rights evidenced by the new Subscription Certificates to be exercised or sold by the recipients thereof. Neither the Fund nor
the Subscription Agent shall have any liability to a transferee or transferor of Rights if Subscription Certificates are not received
in time for exercise or sale prior to the Expiration Date.

Except for the fees charged by the Subscription
Agent (