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AI brief of an SEC Form 8-K · RIVERNORTH OPPORTUNITIES FUND, INC. (RIV)

RiverNorth Opportunities Fund sells 3 million Series B preferred shares for $75 million

Neutral Impact 3 of 5 financing Written later

On September 18, 2026, RiverNorth Opportunities Fund issued 3,000,000 Series B Mandatory Redeemable Preferred shares to purchasers in a private placement, with gross proceeds of approximately $75 million before expenses. The Fund says it will use the proceeds mainly to refinance existing debt and make new portfolio investments. The shares carry a fixed 6.476% annual dividend, must be redeemed on September 18, 2031, and rank ahead of common stock, so they add senior claims that common shareholders sit behind.

Key points

  • 3,000,000 Series B MRP shares issued September 18, 2026, with a $25.00 liquidation preference per share
  • Monthly dividend at an annual rate of 6.476%, or $1.619 per share per year, first payable September 30, 2026
  • Mandatory redemption of all shares on September 18, 2031; shares rank senior to common stock and are subordinate to the BNP Paribas Prime Brokerage credit agreement dated March 9, 2023
  • Asset coverage tests can force redemptions if coverage is at or below 235% for five of ten business days, or below 225% at a Friday check date

The filing

CompanyRIVERNORTH OPPORTUNITIES FUND, INC. (RIV)
Form8-K, current report
Filed with the SECSep 18, 2026, 5:29 PM ET
Accession number0001398344-26-017220

Items reported: 1.01 Material Definitive Agreement3.02 Unregistered Equity Sale5.03 Bylaw / Charter Amendment

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 18, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.