Company: RIV
Filing Date: 2025-03-21
Form Type: N-2/A
Source: 0001398344-25-005840
Chunk: 17

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-03-21
Form: N-2/A
Chunk 17
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 31      |   $18.75 | $16.75 |      $17.24 |     $17.02 | 8.76%                        | -1.59%  |
|         | April 30     |   $17.88 | $16.71 |      $17.23 |     $16.61 | 3.77%                        | 0.60%   |
|         | January 31   |   $17.07 | $13.81 |      $16.48 |     $14.53 | 3.58%                        | -4.96%  |

36

| (1) | Based on high and low closing market price for the respective 
 quarter.                                                      |

| (2) | Based on NAV calculated on the day of the high and low                                                                  
 closing market prices, as applicable, as of the close of regular trading on the NYSE (normally 4:00 p.m. Eastern Time). |

| (3) | Calculated based on the information presented. |

| (4) | For the fiscal quarter from May 1, 2024 to June 30,                   
 2024 due to the change in the fiscal year end effective May 15, 2024. |

In recognition of the possibility that Common Shares might trade at a discount to NAV, the Board may consider one or more actions that might be taken to seek to reduce or eliminate any material discount from NAV in respect of Common Shares, which may include the repurchase of such shares in the open market or in private transactions, the making of a tender offer for such shares or the conversion of the Fund to an open-end investment company. The Board may decide not to take any of these actions in the future. In addition, there can be no assurance any of these actions, or others, if undertaken, will reduce market discount. See “Repurchase of Shares” and “Conversion to Open-End Fund.”

The last reported sale price, NAV per share and percentage discount to NAV per share of the common shares as of March 11, 2025 were $11.78, $12.27 and -3.99%, respectively. As of that same date, the Fund had 21,472,248 common shares outstanding and net assets of the Fund were $263,392,144.

<div align='center'>37

THE OFFERING</div>

The Fund may offer, from time to time, up to $600,000,