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WEST PALM BEACH, Fla.--(BUSINESS WIRE)--RiverNorth Opportunities Fund, Inc. and RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. are each pleased to announce the declaration of preferred dividends for the fourth quarter of 2026, as detailed below. Ex Date Record Date Payable Date November 2, 2026 November 2, 2026 November 13, 2026 Fund Name Preferred Stock Series NYSE Distribution Per Share RiverNorth Opportunities Fund, Inc. 6.000% Series A Perpetual Preferred Stock RIVPRA $0.37500 River.
CEFs had a weak week: just 3 of 26 sectors rose on price (average -1.99%) and 6 of 26 on NAV (average -1.18%). RiverNorth Opportunities Fund (RIV) announced the final results of its rights offering, while Aberdeen's MGF and MIN announced upcoming reverse stock splits. Sector Equity traded at the highest premium (+4.43%) and Senior Loans at the widest discount (-14.57%), while Limited Duration had the lowest average 1-year z-score (-2.88).
RiverNorth Opportunities Fund issued 3,356,796 new shares at $10.49, 90% of NAV, raising about $35.2 million in its 1-for-3 rights offering. Only about 37% of the possible new shares were subscribed, limiting NAV dilution to roughly -1.2% versus a -2.5% full-subscription estimate. The offering carried no sales load, with only about $272,000 of estimated expenses borne by the fund.
RiverNorth Opportunities Fund offers a compelling arbitrage opportunity after a recent rights offering and a sharp spike in yields. RIV now trades at a -10.7% discount to NAV, near historic lows, following a -10% price drop since August 2026. The fund raised $35M (about 10% of AUM) via the rights offering, providing fresh capital to deploy amid market dislocation.
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--RiverNorth Opportunities Fund, Inc. (the “Fund”) (NYSE: RIV) today announced the final results of its transferable rights offering (the “Offering”). The Fund will issue a total of 3,356,796 new shares of common stock as a result of the Offering, which closed on September 23, 2026 (the “Expiration Date”). The subscription price of $10.49 per share in the Offering was established on the Expiration Date based on a formula equal to 90% of the reported net ass.
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--RiverNorth Opportunities Fund, Inc. (the “Fund”) (NYSE: RIV) today announced the preliminary results of its transferable rights offering (the “Offering”) that expired on September 23, 2026 (the “Expiration Date”). In the Offering, the Fund received subscription requests for 3,356,796 shares of common stock from rights holders. Accordingly, the Fund expects to issue 3,356,796 new shares of common stock for these subscriptions, pending the receipt of paymen.
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--RiverNorth Opportunities Fund, Inc. (NYSE: RIV) (the “Fund”) has closed a $75 million private offering of Series B Mandatory Redeemable Preferred Shares, due September 18, 2031 (the “MRPS”). The MRPS are rated A1 by Moody's Ratings. Net proceeds from the offering of the MRPS will be used primarily to refinance the Fund's existing debt and to make new portfolio investments. The table below sets forth the key terms of the MRPS issued. Series Amount ($ MM).
RiverNorth Opportunities Fund announces its fourth transferable rights offering in six years, with a 1-for-3 structure and a shareholder-friendly discount floor. The subscription price is set at the higher of 90% of NAV or 95% of the five-day average market price, limiting dilution risk for existing holders. RIV's history of rights offerings shows variable outcomes, with discount floors providing some protection but not eliminating the need for careful timing and judgment.