RiverNorth Opportunities Fund prices 3.4 million preferred shares at $25.00 each
RiverNorth Opportunities Fund, Inc. priced an underwritten public offering of 3,400,000 shares of 6.00% Series A Perpetual Preferred Shares at $25.00 per share on April 12, 2022. The filing gives estimated net proceeds of approximately $81,877,500, which the Fund plans to use to invest under its objectives, repay borrowings under its credit facility and for general working capital.
- 3,400,000 shares of 6.00% Series A Perpetual Preferred Shares priced at $25.00 per share
- Estimated net proceeds to the Fund of approximately $81,877,500 after underwriting discounts and offering expenses
- Underwriters hold a 30-day option to buy up to an additional 510,000 preferred shares
- Offering expected to close April 20, 2022; Fund has applied to list the shares on the NYSE as RIVPRA