Company: RIV
Filing Date: 2025-08-25
Form Type: 497AD
Source: 0001398344-25-016557
Chunk: 1

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-08-25
Form: 497AD
Chunk 1
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 supplement
and accompanying prospectus will be filed with the SEC but has not been filed as of the date of this release. The Company expects to mail
subscription certificates evidencing the subscription rights and a copy of the prospectus supplement and accompanying prospectus for the
rights offering shortly following the Record Date. These securities described in this release may not be sold nor may offers to purchase
be accepted prior to the time the prospectus supplement and accompanying prospectus are filed with the SEC.

This press release shall not constitute an offer to
sell or constitute a solicitation of an offer to buy.

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RiverNorth Opportunities Fund, Inc.

The investment objective of the Fund is total return
consisting of capital appreciation and current income. The Fund had approximately $268.5 million of net assets and 21.5 million shares
of common stock outstanding as of July 31, 2025.

The Fund is a closed-end fund and does not continuously
issue stock for sale as open-end mutual funds do. The Fund now trades in the secondary market. Investors wishing to buy or sell stock
need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market value.

Risk is inherent in all investing. Investing in any
investment company security involves risk, including the risk that you may receive little or no return on your investment or even that
you may lose part or all of your investment. Therefore, before investing in the shares of common stock, you should consider the risks
as well as the other information in the prospectus, annual report and semi-annual report.

Past performance is no guarantee of future results.

Investors should read the prospectus supplement and accompanying prospectus, when available, and consider the investment objective, risks, fees and expenses of the Fund carefully before investing. To obtain a copy of the prospectus supplement and accompanying prospectus, when available, visit www.rivernorth.com or call 844.569.4750. Please read them carefully before investing.

RiverNorth Capital Management, LLC

RiverNorth Capital Management, LLC (“RiverNorth”)
is an independent investment manager and closed-end fund expert specializing in opportunistic strategies and structures built to exploit
market inefficiencies. Founded in 2000, RiverNorth manages $4.9 billion of assets in registered funds, private funds and separately
managed accounts.

Investor Contact

RiverNorth CEF Investor Relations

800-646-0148, Option 1