RiverNorth/DoubleLine fund announces transferable rights offering

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (NYSE: OPP) announced that its board of directors has authorized a transferable rights offering to common stockholders.

The fund will issue subscription rights to stockholders of record as of October 24, 2025. Each stockholder will receive one right for each share held, with three rights required to purchase one new share of common stock.

The subscription price per share will be determined by a formula equal to 90% of the reported net asset value or 95% of the market price per share, whichever is higher on the expiration date of November 18, 2025. Market price will be calculated based on the average of the last reported sales prices on the New York Stock Exchange for the five trading days preceding the expiration date.

The rights are expected to be listed and tradable on the NYSE. They will begin trading on a "when issued" basis under ticker OPP RTWI on October 23, 2025, and begin regular trading under ticker OPP RT on October 30, 2025.

Record date stockholders who fully exercise their initial rights allocation will be entitled to purchase shares not bought by other stockholders. Stockholders who exercise their rights will not receive distributions payable during October or November 2025 on the new shares.

The offering will be conducted under the fund's existing shelf registration statement with the Securities and Exchange Commission. A final prospectus supplement has not yet been filed.

The fund reported approximately $212.3 million in total net assets and 23.8 million shares outstanding as of September 30, 2025, according to the press release.

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