Every material Form 8-K RIVERNORTH OPPORTUNITIES FUND, INC. filed with the SEC in 2022, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
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
The Fund's Board of Directors approved a new investment advisory agreement with RiverNorth Capital Management, LLC, subject to shareholder approval. RiverNorth, currently the Fund's sub-adviser, has made day-to-day investment decisions since the Fund's inception, and the Fund's name, investment objective, strategy, portfolio management and ticker symbol will not change. Shareholders will vote on the proposal at a special meeting in the second quarter of 2022.
Board approved the new advisory agreement with RiverNorth on March 17, 2022, subject to shareholder approval.
Special shareholder meeting to vote on the agreement is planned for the second quarter of 2022.
If approved, the transition from ALPS Advisors to RiverNorth is expected in the third quarter of 2022.
The Fund had approximately $286 million of net assets and 17.5 million shares outstanding as of December 31, 2021.
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every RIVERNORTH OPPORTUNITIES FUND, INC. filing is on SEC EDGAR ↗. 8-K briefs of other companies →