Company: RIV
Filing Date: 2025-05-21
Form Type: 424B5
Source: 0001398344-25-009946
Chunk: 7

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-05-21
Form: 424B5
Chunk 7
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 use by the Fund of tender option bond transactions; costs, including dividend and/or interest expenses and
other costs (including, without limit, offering and related legal costs, fees to brokers, fees to auction agents, fees to transfer agents,
fees to ratings agencies and fees to auditors associated with satisfying ratings agency requirements for preferred shares or other securities
issued by the Fund and other related requirements in the Fund’s organizational documents) associated with the Fund’s issuance,
offering, redemption and maintenance of preferred shares or other instruments (such as the use of tender option bond transactions) for
the purpose of incurring leverage; fees and expenses of any Underlying Funds in which the Fund invests; dividend and interest expenses
on short positions taken by the Fund; fees and expenses, including travel expenses and fees and expenses of legal counsel retained for
the benefit of the Fund, of directors of the Fund who are not officers, employees, partners, stockholders or members of the Adviser or
its affiliates; fees and expenses associated with and incident to stockholder meetings and proxy solicitations involving contested elections
of directors, stockholder proposals or other non-routine matters that are not initiated or proposed by the Adviser; legal, marketing,
printing, accounting and other expenses associated with any future share offerings, such as rights offerings and shelf offerings, following
the Fund’s initial offering; expenses associated with tender offers and other share repurchases and redemptions; and other extraordinary
expenses, including extraordinary legal expenses, as may arise, including, without limit, expenses incurred in connection with litigation,
proceedings, other claims and the legal obligations of the Fund to indemnify its directors, officers, employees, stockholders, distributors
and agents with respect thereto.

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Prior to October 1, 2022, ALPS
Advisors, Inc. (“ALPS Advisors”) served as the Fund’s investment adviser, and the Fund paid ALPS Advisors a management
fee payable on a monthly basis at the annual rate of 1.00% of the Fund’s average daily Managed Assets for the service and facilities
it provided. The management fee paid by the Fund to ALPS Advisors was essentially a variable fee structure where the Fund paid an advisory
fee under the prior investment advisory agreement with ALPS Advisors and also paid “variable fees” to cover other Fund expenses
(including administrative expenses). Prior to October 1, 2022, the Adviser served as investment sub-adviser to the Fund.