Company: RIV
Filing Date: 2025-09-08
Form Type: 424B2
Source: 0001398344-25-017856
Chunk: 35

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-08
Form: 424B2
Chunk 35
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 be made to a particular Stockholder, the Subscription Agent will attempt to sell all of such Stockholder’s
Rights and remit the net proceeds, if any, to such Stockholder. If the Rights can be sold, sales of these Rights will be deemed to have
been effected at the weighted average price received by the Subscription Agent on the day the Rights are sold, less any applicable brokerage
commissions, taxes and other expenses.

Notice of Net Asset Value Decline

In accordance with SEC regulatory requirements,
the Fund has undertaken to suspend the Offer until the Fund amends this Prospectus Supplement if, after the effective date of this Prospectus
Supplement, the Fund’s NAV declines more than 10% from the Fund’s NAV as of that date. If this occurs, the Expiration Date
will be extended, and the Fund will notify Record Date Stockholders of the decline and permit them to cancel their exercise of Rights.

Delivery of Shares

Participants in the Fund’s dividend
reinvestment plan (the “Plan”) will have any Common Shares acquired pursuant to the Offer credited to their stockholder dividend
reinvestment accounts in the Plan. Stockholders whose shares are held of record by DTC or by any other depository or nominee on their
behalf or their broker-dealers’ behalf will have any Shares acquired during the subscription period credited to the account of DTC
or other depository or nominee. No certificates will be issued or delivered with respect to Common Shares issued and sold in the Offer.

Certain U.S. Federal Income Tax Matters

The following is a general summary of certain
material U.S. federal income tax consequences of the Offer under the provisions of the Code, Treasury regulations promulgated under it,
and other applicable authorities in effect as of the date of this Prospectus Supplement that are generally applicable to Record Date Stockholders
and other Rights holders who are “United States persons” within the meaning of the Code, and does not address any foreign,
state, local or other tax consequences. These authorities may be changed, possibly with retroactive effect, or subject to new legislative,
administrative or judicial action. The Fund has not requested a ruling from the Internal Revenue Service or an opinion of legal counsel
as to any tax matters related to the Offer. This discussion does not take into account any considerations that may relate to special classes
of Record Date Stockholders or other Rights holders. Record Date Stockholders and other Rights holders should consult their tax advisors
regarding the tax consequences, including U.S. federal