Articles from RiverNorth Capital Management, LLC

RiverNorth Opportunities Fund, Inc. and RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. are each pleased to announce the declaration of preferred dividends for the first quarter of 2025, as detailed below.

In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the reset distribution rates have been proposed for the calendar year 2025, as detailed below. Further, the Funds have established the distribution dates for January, February, and March 2025. The payment of the distributions are subject to Board approval.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSEOPP) today announced the final results of its inseparable non-transferable rights to purchase additional shares of common stock and newly issued 6.00%, 3-Year Term, Series C Term Preferred Stock (the “Series C Preferred Stock”) of the Fund (the “Offering”). The Fund will issue a total of 838,412 new shares of common stock and 419,206 new shares of Series C Preferred Stock as a result of the Offering, which closed on November 25, 2024 (the “Expiration Date”).

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSEOPP) today announced the preliminary results of its inseparable non-transferable rights to purchase additional shares of common stock and newly issued 6.00%, 3-Year Term, Series C Term Preferred Stock (the “Series C Preferred Stock”) of the Fund (the “Offering”) that expired on November 25, 2024 (the “Expiration Date”). In the Offering, the Fund received subscription requests for 838,486 shares of common stock and 419,243 shares of Series C Preferred Stock from rights holders. Accordingly, the Fund expects to issue 838,486 new shares of common stock and 419,243 shares of Series C Preferred Stock for these subscriptions, pending the receipt of payment for “delivery-guaranteed” subscriptions, on or about December 2, 2024. Gross proceeds from the Offering are expected to total approximately $11.2 million, before expenses.

As previously announced in press releases dated October 21, 2024 and November 1, 2024 (the “Prior Announcements”), the Board of Directors of the RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSEOPP) has authorized and set the terms of an offering to the Fund’s stockholders of inseparable non-transferable rights to purchase additional shares of common stock and newly issued 6.00%, 3-Year Term, Series C Term Preferred Stock (the “Series C Preferred Stock”) of the Fund.

As announced in a press release dated October 21, 2024 (the “Prior Announcement”), the Board of Directors of the RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSEOPP) has authorized and set the terms of an offering to the Fund’s stockholders of inseparable non-transferable rights to purchase additional shares of common stock and newly issued 6.00%, 3-Year Term, Series C Term Preferred Stock (the “Series C Preferred Stock”) of the Fund.

RiverNorth Opportunities Fund, Inc. and RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. are each pleased to announce the declaration of preferred dividends for the 4th quarter of 2024, as detailed below.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSEOPP) announces that its Board of Directors (the “Board”) has authorized and set the terms of an offering to the Fund’s stockholders of inseparable non-transferable rights to purchase additional shares of common stock and newly issued 6.00%, 3-Year Term, Series C Term Preferred Stock (the “Series C Preferred Stock”) of the Fund. It is anticipated that the Fund will apply for the preferred shares to be listed on the New York Stock Exchange (“NYSE”) under the ticker OPPPRC. If the NYSE application is approved, trading on the NYSE in the Series C Preferred Stock is expected to begin within 30 days following the issuance date of the Series C Preferred Stock.

In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the Funds have declared distributions for October, November and December 2024, as detailed below.

As announced in a press release dated September 4, 2024 (the “Prior Announcement”), the Board of Directors of the RiverNorth Capital and Income Fund, Inc. (the “Fund”) (NYSERSF) has authorized the redemption of all 1,656,000 outstanding shares of its 5.875% Series A Term Preferred Stock (the “Series A Preferred Stock”) NYSE: RMPLNYSERMPL)

RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Capital and Income Fund, Inc. are each pleased to announce the declaration of preferred dividends for the third quarter of 2024, as detailed below.

In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the Funds have declared distributions for July, August and September 2024, as detailed below.

RiverNorth Opportunities Fund, Inc. (NYSERIV) (the “Fund”) is pleased to announce that on May 14-15, 2024, the Board of Directors of the Fund (the “Board”) approved a change to the fiscal year end (“FYE”) of the Fund, as set forth in the table below.

RiverNorth Capital and Income Fund, Inc. (NYSERSF) (the “Fund”) today announced the final results of its non-transferable rights offering (the “Offering”) that expired on April 22, 2024 (the “Expiration Date”). In the Offering, the Fund received subscription requests for 949,525 shares of common stock from rights holders. Accordingly, the Fund expects to issue 949,525 new shares of common stock for these subscriptions, on or about April 24, 2024. Gross proceeds from the Offering are expected to total approximately $14.3 million, before expenses.

RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Capital and Income Fund, Inc. are each pleased to announce the declaration of preferred dividends for the second quarter of 2024, as detailed below.

RiverNorth Capital and Income Fund, Inc. (the “Fund”) (NYSERSF), a closed-end fund, announced the final results of its repurchase offer for up to 5% of its outstanding common shares. The repurchase offer expired at 5:00 P.M. Eastern Time on April 3, 2024.

In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the Funds have declared distributions for April, May and June 2024, as detailed below.

RiverNorth Capital Management, LLC (“RiverNorth”), an investment management firm specializing in opportunistic investment strategies, announced that the RiverNorth Core Opportunity Fund (NASDAQRNCOX) (the “Fund”), won the 2024 Lipper Fund Award for Best Alternative Global Macro Fund for the ten-year period ended November 30, 2023. This marks the seventh time the Fund has earned the award^.

RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Capital and Income Fund, Inc. are each pleased to announce the declaration of preferred dividends for the first quarter of 2024, as detailed below.

In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the distribution rates have been reset for the calendar year 2024, as detailed below. Further, the Funds have declared distributions for January, February, and March 2024.

RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Capital and Income Fund, Inc. are each pleased to announce the declaration of preferred dividends for the fourth quarter of 2023, as detailed below.

The RiverNorth closed-end funds (the “Funds”) have declared monthly distributions for October, November and December 2023 in accordance with each Fund’s level distribution policy. Details below.

The RiverNorth closed-end funds (the “Funds”) have declared monthly distributions for July, August and September 2023 in accordance with each Fund’s level distribution policy. Details below.

The RiverNorth closed-end funds (the “Funds”) have declared monthly distributions for April, May and June 2023 in accordance with each Fund’s level distribution policy. In addition, the RiverNorth Flexible Municipal Income Fund, Inc. has declared a capital gain distribution. Details below.

RiverNorth Capital Management, LLC (“RiverNorth”), an investment management firm specializing in opportunistic investment strategies, announced that the RiverNorth Core Opportunity Fund (NASDAQRNCOX) (the “Fund”), won the 2023 Lipper Fund Award for Best Alternative Global Macro Fund for the ten-year period ended November 30, 2022. This marks the sixth time the Fund has earned the award^.

RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Capital and Income Fund, Inc. are each pleased to announce the declaration of preferred dividends for the first quarter of 2023, as detailed below.

In accordance with the RiverNorth closed-end funds' (the “Funds”) level distribution policies, the distribution rates have been reset for the calendar year 2023, as detailed below. Further, the Funds have declared distributions for January, February and March 2023.

The RiverNorth Flexible Municipal Income Fund, Inc. (the “Fund”) has declared a year-end capital gain distribution, as detailed below. This year-end capital gain distribution is in addition to the Fund’s regular monthly distribution and is being paid to allow the Fund to meet its 2022 distribution requirement.

RiverNorth Specialty Finance Corporation (the “Fund”) today announced that effective on or about December 7, 2022 the Fund’s name will be changed to RiverNorth Capital and Income Fund. The Fund’s investment strategy and objective will remain the same. Further, the Fund’s common shares will continue to trade under its existing New York Stock Exchange (“NYSE”) symbol “RSF”. The Fund’s preferred shares will continue to trade under the NYSE symbol “RMPL”, and CUSIP numbers for RSF and RMPL will not change.

The RiverNorth Closed-End Funds (each a “Fund” and collectively, the “Funds”)1 are pleased to announce that Lisa Mougin has been appointed to the Board of Directors of each Fund as an independent director, effective immediately. Ms. Mougin is an experienced senior executive with many years of investment management industry experience in sales, client relationship and operations. Ms. Mougin was most recently President and Chief Operating Officer of the TIFIN affiliated Positivly and Louise platforms. Prior to that Ms. Mougin was a member of the executive team that built ALPS Fund Services into a leader in the mutual fund and hedge fund industries. During the span of 20 years at ALPS, Lisa led the Sales and Relationship Management Teams to achieving significant growth of the firm’s client base and revenues.

RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation are each pleased to announce the declaration of preferred dividends for the fourth quarter of 2022, as detailed below.

The RiverNorth closed-end funds (the “Funds”) have announced the declaration of monthly distributions for October, November and December 2022 in accordance with each Fund’s level distribution policy as detailed below.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSEOPP) today announced the final results of its transferable rights offering (the “Offering”). The Fund will issue a total of 3,508,633 new shares of common stock as a result of the Offering, which closed on September 23, 2022 (the “Expiration Date”).

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSEOPP) today announced the preliminary results of its transferable rights offering (the “Offering”) that expired on September 23, 2022 (the “Expiration Date”). In the Offering, the Fund received subscription requests for 3,508,633 shares of common stock from rights holders. Accordingly, the Fund expects to issue 3,508,633 new shares of common stock for these subscriptions, pending the receipt of payment for “delivery-guaranteed” subscriptions, on or about September 29, 2022. Gross proceeds from the Offering are expected to total approximately $34.0 million, before expenses.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSEOPP) announces that its Board of Directors (the “Board”) has authorized and set the terms of an offering to the Fund’s stockholders of rights to purchase additional shares of common stock of the Fund.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation are each pleased to announce the declaration of preferred dividends for the third quarter of 2022, as detailed below.

RiverNorth Capital Management, LLC and TrueMark Investments today announced the launch of the RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ), trading on the NYSE. SPCZ is an actively managed Fund that invests in pre-merger securities of SPACs (Special Purpose Acquisition Companies) whose business plan is to raise capital in an Initial Public Offering (IPO) and, within a specific period, engage in a merger or acquisition with one or more unidentified companies. Trading in the new Fund is live today.

Several RiverNorth closed-end funds (the “Funds”) have announced the declaration of monthly distributions for July, August and September 2022 in accordance with each Fund’s level distribution policy, as detailed below.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation are each pleased to announce the declaration of preferred dividends for the second quarter of 2022, as detailed below.

Several RiverNorth closed-end funds (the “Funds”) have announced the declaration of monthly distributions for April, May and June 2022 in accordance with each Fund’s level distribution policy, as detailed below.

RiverNorth Capital Management, LLC (“RiverNorth”), an investment management firm specializing in opportunistic investment strategies, announced that the RiverNorth Core Opportunity Fund, won the 2022 Lipper Fund Award for Best Alternative Global Macro Fund for the ten-year period ended November 30, 2021. This marks the fifth time the Fund has earned the award*.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation are each pleased to announce the declaration of preferred dividends for the first quarter of 2022, as detailed below.

The RiverNorth Opportunistic Municipal Income Fund, Inc. and the RiverNorth Flexible Municipal Income Fund, Inc. have each declared a year-end capital gain distribution, as detailed below. These year-end capital gain distributions are in addition to each Fund’s regular monthly distribution and are being paid to allow the funds to meet their 2021 distribution requirements.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation are each pleased to announce the declaration of preferred dividends for the fourth quarter of 2021, as detailed below.

Several RiverNorth closed-end funds (the “Funds”) have announced the declaration of monthly distributions for October, November and December 2021 in accordance with each Fund’s level distribution policy, as detailed below.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) (NYSEOPP) announces that its Board of Directors (the “Board”) has authorized and set the terms of an offering to the Fund’s stockholders of rights to purchase additional shares of common stock of the Fund.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation are each pleased to announce the declaration of preferred dividends for the third quarter of 2021, as detailed below.

RiverNorth Specialty Finance Corporation (the “Fund”) (NYSERSF), a closed-end fund, announced the final results of its repurchase offer for up to 5%, or 227,380 of its outstanding common shares. The repurchase offer expired at 5:00 P.M. Eastern Time on July 7, 2021.

Several RiverNorth closed-end funds (the “Funds”) have announced the declaration of monthly distributions for July, August and September 2021 in accordance with each Fund’s level distribution policy, as detailed below.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation are each pleased to announce the declaration of preferred dividends for the second quarter of 2021, as detailed below.