Company: RIV
Filing Date: 2025-03-21
Form Type: N-2/A
Source: 0001398344-25-005840
Chunk: 7

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-03-21
Form: N-2/A
Chunk 7
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 in the Fund than if they exercised their rights. As a result of such an offering, a shareholder may experience 
 dilution in net asset value per share if the subscription price per share is below the net asset value per share on the expiration   
 date. In addition to the economic dilution described above, if a shareholder does not exercise all of its Rights, the shareholder    
 will incur voting dilution as a result of the Rights offering. This voting dilution will occur because the shareholder will own      
 a smaller proportionate interest in the Fund after the rights offering than prior to the Rights offering.                            
 There                                                                                                                                
 is a risk that changes in market conditions may result in the underlying Common Shares or Preferred Shares purchasable upon exercise 
 of Rights being less attractive to investors at the conclusion of the subscription period. This may reduce or eliminate the value    
 of the Rights. If investors exercise only a portion of the rights, the number of shares issued may be reduced, and the shares        
 may trade at less favorable prices than larger offerings for similar securities. Rights issued by the Fund may be transferable       
 or non-transferable rights.                                                                                                          
 Leverage                                                                                                                             
 Risks. The Fund may borrow money, or issue debt or preferred stock. Since Common Stockholders pay all expenses related               
 to the issuance of debt or use of leverage, the use of leverage through borrowing of money, issuance of debt securities or the       
 issuance of preferred stock for investment purposes creates risks for the holders of Common Shares. Leverage is a speculative        
 technique that exposes the Fund to greater risk and increased costs than if it were not implemented. Increases and decreases in      
 the value of the Fund’s portfolio will be magnified when the Fund uses leverage. As a result, leverage may cause greater             
 changes in the Fund’s NAV. The Fund will also have to pay interest on its borrowings or dividends on preferred stock, if             
 any, which may reduce the Fund’s return. The leverage costs may be greater than the Fund’s return on the underlying                  
 investment. The Fund’s leveraging strategy may not be successful. Leverage risk would also apply to the Fund’s investments           
 in Underlying Funds and SPACs to the extent an Underlying Fund or SPAC uses leverage. See “Use of Leverage.”                         |

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| Market                                                                                                                                
 Discount. Common stock of closed-end funds frequently trades at a discount from its NAV. This                                         
 risk may be greater for investors selling their shares in a relatively short period of time after