Company: RIV
Filing Date: 2025-02-18
Form Type: N-2/A
Source: 0001398344-25-003061
Chunk: 144

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-02-18
Form: N-2/A
Chunk 144
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, a SPAC generally invests its assets (less an amount to cover expenses) in U.S. Government securities, money market fund securities and cash. SPACs and similar entities may be blank check companies with no operating history or ongoing business other than to seek a potential acquisition. Accordingly, the value of their securities is particularly dependent on the ability of the entity’s management to identify and complete a profitable acquisition. Certain SPACs may seek acquisitions only in limited industries or regions, which may increase the volatility of their prices. If an acquisition or merger that meets the requirements for the SPAC is not completed within a predetermined period of time, the invested funds are returned to the entity’s shareholders, less certain permitted expenses. Accordingly, any rights or warrants issued by the SPAC will expire worthless. Certain private investments in SPACs may be illiquid and/or be subject to restrictions on resale. To the extent the SPAC is invested in cash or similar securities, this may impact the Fund’s ability to meet its investment objective.

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An investment in aSPAC is subject to a variety of risks, including, but not limited to, the following: (1) a portion of the capital raised by theSPAC for the purpose of effecting an acquisition or merger may be expended prior to the transaction for payment of taxes and other expenses; (2) the Fund generally will not receive significant income from its investments in SPACs (both prior to and after any acquisition or merger) and, therefore, the Fund’s investments in SPACs will not significantly contribute to the Fund’s distributions to shareholders; (3) prior to any acquisition or merger, aSPAC ’s assets are typically invested in U.S. government securities and similar investments whose returns or yields may be significantly lower than those of the Fund’s other investments; (4) as the number of SPACs seeking to acquire operating businesses increases, attractive acquisition or merger targets may become scarce; (5) if an attractive acquisition or merger target is not identified at all, theSPAC will be required to return any remaining assets to shareholders; (6) if an acquisition or merger target is identified, the Fund may elect not to participate in the proposed transaction, the Fund may be required to divest its interests in theSPAC , due to regulatory or other considerations, or any proposed merger or acquisition may be unable to obtain the requisite approval, if any, ofSPAC shareholders and/or antitrust and securities regulators, in which case the