Company: RIV
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001398344-25-006352
Chunk: 77

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 77
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 month period) to or with any person or entity    
 of any assets of the Fund having an aggregate fair market value of $1,000,000 or more      
 except for portfolio transactions (including pledges of portfolio securities in connection 
 with borrowings) effected by the Fund in the ordinary course of its business;              |

| ● | the                                                                                       
 conversion of the Fund from closed-end company to an open-end company, and any amendments 
 necessary to effect the conversion;                                                       |

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| ● | the                                                                                    
 voluntary liquidation or dissolution of the Fund or charter amendment to terminate the 
 Fund’s existence;                                                                      |

| ● | unless                                                                                      
 the 1940 Act or federal law requires a lesser vote, any stockholder proposal as to specific 
 investment decisions made or to be made with respect to the Fund’s assets as to             
 which stockholder approval is required under federal or Maryland law.                       |

However, the stockholder vote described above will not be required with respect to the foregoing transactions (other than those as to which stockholder approval is required under federal or Maryland law) if they are approved by a vote of two-thirds of the Continuing Directors (as defined below). In that case, if Maryland law requires stockholder approval, the affirmative vote of a majority of the votes entitled to be cast thereon by stockholders of the Fund will be required. In addition, if the Fund has any Preferred Shares outstanding, the holders of a majority of the outstanding Preferred Shares, voting separately as a class, would be required under the 1940 Act to adopt any plan of reorganization that would adversely affect the holders of the Preferred Shares, to convert the Fund to an open-end investment company or to deviate from any of the Fund’s fundamental investment policies.

“Continuing Director” means any member of the Board who is not an Interested Party (as defined below) or an affiliate of an Interested Party and has been a member of the Board for a period of at least 12 months, or has been a member of the Board since December 2, 2013, or is a successor of a Continuing Director who is unaffiliated with an Interested Party and is recommended to succeed a Continuing Director by a majority of the Continuing Directors then on the Board.

“Interested Party” means any person, other than an investment company advised by the Adviser or any of its affiliates, which enters, or proposes to enter, into a Business Combination with the Fund.

In addition, the Fund’s Charter requires the