RiverNorth Opportunities Fund Sets Terms for Transferable Rights Offering
RIV is trading near its 52-week low of $10.93 (5.1% above the low).
Summary
RiverNorth Opportunities Fund announced terms for a transferable rights offering, allowing shareholders to buy new shares at a discount. The subscription price will be 90% of NAV or 95% of market price, whichever is higher, with an expiration date of September 23, 2026.
Key Events · Financing and Capital Events · RIV
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Rights Offering Terms Set
Record Date Stockholders as of August 31, 2026 will receive one Right per share held. Every three Rights can buy one new share.
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Subscription Price Formula
Price per new share will be 90% of NAV or 95% of market price, whichever is higher, on the Expiration Date of September 23, 2026.
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Rights Trading Schedule
Rights trade When Issued under RIV RTWI starting August 28, 2026, and Regular Way under RIV RT starting September 4, 2026.
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Fund Size Context
As of July 31, 2026, the fund had $324.7 million in net assets and 27.4 million shares outstanding.
Analysis · RIV · Unknown
The fund is offering existing shareholders the right to buy new shares at a discount to market or NAV. The subscription price will be 90% of NAV or 95% of market price, whichever is higher, on the expiration date. This is a dilutive capital raise, but the discount is modest and the rights are transferable, giving shareholders flexibility. The offering could raise significant capital relative to the fund's $324.7 million net assets.
At the time of this filing, RIV was trading at $11.49 on NYSE in the Unknown sector, with a market capitalization of approximately $252.8M. The 52-week trading range was $10.93 to $12.56. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.