Company: RIV
Filing Date: 2025-04-01
Form Type: 424B3
Source: 0001398344-25-006352
Chunk: 138

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-04-01
Form: 424B3
Chunk 138
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 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 Fund may not reap any resulting benefits; (7) an acquisition or merger once effected may prove unsuccessful and an investment in theSPAC may lose value; (8) an investment in aSPAC may be diluted by additional later offerings of interests in theSPAC or by other investors exercising existing rights to purchase shares of theSPAC ; (9) only a thinly traded market for shares of or interests in aSPAC may develop, or there may be no market at all, leaving the Fund unable to sell its interest in aSPAC or to sell its interest only at a price below what the Fund believes