Company: RIV
Filing Date: 2025-03-21
Form Type: N-2/A
Source: 0001398344-25-005840
Chunk: 98

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-03-21
Form: N-2/A
Chunk 98
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 mortgages or investments secured by real estate or interests therein,     
 except that the Fund reserves freedom of action to hold and to sell real estate acquired 
 as a result of the Fund’s ownership of securities;                                       |

| (6) | purchase                                                                                      
 or sell commodities, unless acquired as a result of ownership of securities or other          
 instruments; provided that this restriction shall not prohibit the Fund from purchasing       
 or selling options, future contracts and related options thereon, forward contracts,          
 swaps, caps, floors collars and any other financial instruments or from investing in          
 securities or other instruments backed by physical commodities or as otherwise permitted      
 by the 1940 Act and as interpreted or modified by regulatory authority having jurisdiction,   
 from time to time, or an exemption or other relief applicable to the Fund from the provisions 
 of the 1940 Act, as amended from time to time;                                                |

| (7) | With                                                                                         
 respect to 75% of the Fund’s total assets, purchase the securities of any issuer             
 (except obligations of the United States Government and its instrumentalities and securities 
 of other investment companies) if, as a result, (a) more than 5% of the Fund’s               
 total assets would be invested in the securities of that issuer, or (b) the Fund would       
 hold more than 10% of the outstanding voting securities of that issuer; or                   |

| (8) | make                                                                                      
 loans except as permitted under the 1940 Act and as interpreted or modified by regulatory 
 authority having jurisdiction, from time to time.                                         |

A fundamental policy may not be changed without the approval of a majority of the outstanding voting securities of the Fund which, under the 1940 Act and the rules thereunder and as used in this SAI, means the lesser of (1) 67% or more of the voting securities present at such meeting, if the holders of more than 50% of the outstanding voting securities of the Fund are present or represented by proxy, or (2) more than 50% of the outstanding voting securities of the Fund.

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Fundamental Investment Restriction (1)

The 1940 Act permits the Fund to borrow money in an amount up to one-third of its total assets (including the amount borrowed) less its liabilities (not including any borrowings but including the fair market value at the time of computation of any other senior securities then outstanding). The Fund may also borrow an additional 5% of its total assets