Form N-CSR RIVERNORTH OPPORTUNITIES For: Jul 31

October 8, 2021 3:23 PM EDT

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-CSR

 

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

 

811-22472

(Investment Company Act File Number)

 

RiverNorth Opportunities Fund, Inc.

(Exact Name of Registrant as Specified in Charter)

 

1290 Broadway, Suite 1000

Denver, CO 80203

(Address of Principal Executive Offices)

 

Sareena Khwaja-Dixon

RiverNorth Opportunities Fund, Inc.

1290 Broadway, Suite 1000

Denver, Colorado 80203

(Name and address of agent for service)

 

(303) 623-2577

(Registrant’s Telephone Number)

 

Date of Fiscal Year End: July 31

 

Date of Reporting Period: July 31, 2021

 

 

 

 

 

 

 

Item 1.Reports to Shareholders.

 

(a)

 

OPPORTUNISTIC INVESTMENT STRATEGIES

 

image

 

 

 

 

 

 

 

 

 

 

Annual Report

 

RIVERNORTH OPPORTUNITIES FUND, INC.

(RIV)

 

 

 

 

 

 

 

Investment Sub-Adviser:

RiverNorth Capital Management, LLC

325 N. LaSalle Street, Suite 645

Chicago, IL 60654

image 

 

 

RiverNorth Opportunities Fund, Inc.

Table of Contents

 

 

Performance Overview

2

 

 

Statement of Investments

6

 

 

Statement of Assets and Liabilities

23

 

 

Statement of Operations

24

 

 

Statements of Changes in Net Assets

25

 

 

Financial Highlights

26

 

 

Notes to Financial Statements

29

 

 

Report of Independent Registered Public Accounting Firm

43

 

 

Dividend Reinvestment Plan

44

 

 

Directors and Officers

46

 

 

Additional Information

55

 

 

Portfolio Holdings

55

Proxy Voting

55

Stockholder Meeting Results

55

Unaudited Tax Information

56

Custodian and Transfer Agent

56

Legal Counsel

57

Independent Registered Public Accounting Firm

57

 

 

Expense Example

58

 

 

Summary of Updated Information Regarding the Fund

60

 

 

Data Privacy Policies and Procedures

90

 

 

 

RiverNorth Opportunities Fund, Inc.

Performance Overview

 

July 31, 2021 (Unaudited)

 

 

INVESTMENT OBJECTIVE AND PRINCIPAL INVESTMENT STRATEGIES

 

RiverNorth Opportunities Fund, Inc.’s (the “Fund”) investment objective is total return consisting of capital appreciation and current income.

 

The Fund seeks to achieve its investment objective by pursuing a tactical asset allocation strategy and opportunistically investing under normal circumstances in closed-end funds (“CEF”), exchange-traded funds (“ETFs”), business development companies (“BDCs”) and special purpose acquisition companies (“SPACs” and collectively, “Underlying Funds”).

 

RiverNorth Capital Management, LLC (the “Subadviser”) has the flexibility to change the Fund’s asset allocation based on its ongoing analysis of the equity, fixed income and alternative asset markets. The Subadviser considers various quantitative and qualitative factors relating to the domestic and foreign securities markets and economies when making asset allocation and security selection decisions. While the Subadviser continuously evaluates these factors, material shifts in the Fund’s asset class exposures will typically take place over longer periods of time.

 

PERFORMANCE OVERVIEW

 

For the twelve-month period ended July 31, 2021, the Fund returned 30.09% on a net asset value (“NAV”) basis and 39.94% on a market price basis. The S&P 500 Total Return Index returned 36.45% during the same period. The All Closed-end Fund Index(1) return was 19.46% on a NAV basis and 28.99% on a price basis over the twelve-month period.

 

The Fund benefitted from strong CEF NAV performance combined with significant discount narrowing. The average discount of the Fund’s CEF holdings narrowed from 14.09% to 7.12% over the period. Several of the Fund’s holdings announced/completed corporate actions such as tender offers or liquidations, which positively impacted performance. We believe the combination of low interest rates, attractive distribution yields, and strong past performance can be a catalyst to drive CEF discounts narrower (and/or premiums higher). The Fund’s holdings in SPACs and BDCs also contributed positively to performance. After a record run of issuance ending in February 2021, the SPAC market has recently cooled. This provides opportunity in both the primary (new issue) and secondary markets. In our view, the performance of the SPAC market in 2020 and early 2021 was an aberration and we are now back to a more normal state. We believe the asset class offers a unique and asymmetric return profile. In general, we look to purchase SPAC units at the IPO price or better. The team favors units with strong sponsorship and/or attractive terms. The units we purchase are then split into common stock and warrant. With time, the common stock will be sold back to the issuer (via the tender offer) or into the secondary market, if the price is higher. The warrants may be retained after the consummation of a merger creating the potential for further upside. The Fund also allocates a portion of its assets to Investment Company Debt (debt securities issued by BDCs and CEFs that are used to lever their portfolios) (“ICD”). Even though ICD yields have come in considerably since March 2020, in our view this paper offers attractive yields relative to investment-grade corporate debt with a lower probability of loss from default.

 

The main detractor from NAV performance was the Fund’s hedging through taking short positions in US equity and credit focused ETFs, as both sectors posted positive returns over the period.

 

 

2

www.rivernorthcef.com

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Performance Overview

 

July 31, 2021 (Unaudited)

 

(1)

All Closed-End Fund Index

Discounts are based on Morningstar, Inc. un-weighted closed-end fund indexes, which are equal-weighted averages of all of the closed-end funds assigned to the categories below:

- All CEFs: all CEFs in the Morningstar domestic CEF universe.

 

PERFORMANCE as of July 31, 2021

 

 

 

CUMULATIVE

 

 AVERAGE ANNUAL

TOTAL RETURNS(1)

 

6 Months

 

1 Year

 

3 Year

 

5 Year

 

Since
Inception(2)

RiverNorth Opportunities Fund, Inc. -NAV(3)

 

 

9.59

%

 

 

30.09

%

 

 

9.87

%

 

 

9.12

%

 

 

10.66

%

RiverNorth Opportunities Fund, Inc. - Market Price(4)

 

 

14.68

%

 

 

39.94

%

 

 

12.24

%

 

 

12.05

%

 

 

11.39

%

S&P 500® Total Return Index

 

 

19.19

%

 

 

36.45

%

 

 

18.16

%

 

 

17.35

%

 

 

16.67

%

 

(1)     Total returns assume reinvestment of all distributions.

(2)     The Fund commenced operations on December 24, 2015.

(3)     Performance returns are net of management fees and other Fund expenses. 

(4)     Market price is the value at which the Fund trades on an exchange. This market price can be more or less than its NAV.

 

Performance data quoted represents past performance, which is not a guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. You can obtain performance data current to the most recent month end by calling (855) 830-1222 or by visiting www.rivernorthcef.com. Total return measures net investment income and capital gain or loss from portfolio investments. All performance shown assumes reinvestment of dividends and capital gains distributions.

 

DISTRIBUTION TO COMMON STOCKHOLDERS

 

The Fund intends to make regular monthly distributions to stockholders at a constant and fixed (but not guaranteed) rate that is reset annually to a rate equal to a percentage of the average of the Fund’s NAV per share as reported for the final five trading days of the preceding calendar year. The Board of Directors approve the distribution and may adjust it from time to time. The monthly distribution amount paid from August 1, 2020 to December 31, 2020 was $0.18 per share and the Fund paid $0.17 per share monthly between January 1, 2021 and July 31, 2021. At times, to maintain a stable level of distributions, the Fund may pay out less than all of its net investment income or pay out accumulated undistributed income, or return of capital, in addition to current net investment income.

 

Total annual expense ratio as a percentage of net assets attributable to common shares as of July 31, 2021, is 1.45% (excluding dividend expense and line of credit expense). Including dividend expense and line of credit expense, the expense ratio is 1.91%.

 

The Fund is a closed-end fund and does not continuously issue shares for sale as open-end mutual funds do. The Fund now trades only in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker and additional charges or commissions will apply. The share price of a closed-end fund is based on the market’s value.

 

Distributions may be paid from sources of income other than ordinary income, such as net realized short-term capital gains, net realized long-term capital gains and return of capital. The actual

 

 

Annual Report | July 31, 2021

3

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Performance Overview

 

July 31, 2021 (Unaudited)

 

amounts and sources of the amounts for tax reporting purposes will depend upon a Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. If a distribution includes anything other than net investment income, the Fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year.

 

S&P 500® Total Return Index – A market value weighted index of 500 stocks chosen for market size, liquidity and industry grouping, among other factors. This index is designed to be a leading indicator of U.S. equities and is meant to reflect the risk/return characteristics of the large cap universe. This index reflects the effects of dividend reinvestment.

 

Indices are unmanaged; their returns do not reflect any fees, expenses, or sales charges.

 

An investor cannot invest directly in an index.

 

ALPS Advisors, Inc. is the investment adviser to the Fund.

 

RiverNorth Capital Management, LLC is the investment sub-adviser to the Fund. RiverNorth Capital Management, LLC is not affiliated with ALPS Advisors, Inc. or any of its affiliates.

 

Secondary market support provided to the Fund by ALPS Advisors, Inc.’s affiliate, ALPS Portfolio Solutions Distributor, Inc., a FINRA member.

 

GROWTH OF A HYPOTHETICAL $10,000 INVESTMENT

 

The graph below illustrates the growth of a hypothetical $10,000 investment assuming the purchase of common shares at NAV or the closing market price (NYSE: RIV) of $19.40 on December 24, 2015, and tracking its progress through July 31, 2021.

 

image

 

Past performance does not guarantee future results. Performance will fluctuate with changes in market conditions. Current performance may be lower or higher than the performance data shown. Performance information does not reflect the deduction of taxes that shareholders would pay on Fund distributions or the sale of Fund shares. An investment in the Fund involves risk, including loss of principal.

 

 

4

www.rivernorthcef.com

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Performance Overview

 

July 31, 2021 (Unaudited)

 

ASSET ALLOCATION as of July 31, 2021^

 

image

 

^Holdings are subject to change.
*Represents securities sold short.

Percentages are based on total net assets of the Fund.

 

TOP TEN HOLDINGS* as of July 31, 2021

 

 

  

% of Net Assets

**

Pershing Square Holdings Ltd.

 

 

4.96

%

Saba Capital Income & Opportunities Fund

 

 

4.65

%

Eaton Vance Senior Income Trust

 

 

3.58

%

PIMCO Energy & Tactical Credit Opportunities Fund

 

 

3.20

%

Invesco Senior Income Trust

 

 

3.16

%

Nuveen High Income November 2021 Target Term Fund

 

 

3.11

%

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.

 

 

3.03

%

Eaton Vance Floating-Rate Income Trust

 

 

2.95

%

Sprott Physical Gold and Silver Trust

 

 

2.77

%

First Trust Senior Floating Rate 2022 Target Term Fund

 

 

2.74

%

 

 

 

34.15

%

 

*Holdings are subject to change and exclude cash equivalents. Only long positions are listed.
**Percentages are based on total net assets, including securities sold short.

 

 

Annual Report | July 31, 2021

5

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Statement of Investments

 

July 31, 2021

 

Description

 

Shares

 

Value
(Note 2)

 

CLOSED-END FUNDS - COMMON SHARES (59.95%)

 

 

 

 

 

 

 

Aberdeen Emerging Markets Equity Income Fund, Inc.

 

 

396,945

 

$

3,453,422

 

Barings Corporate Investors

 

 

200,266

 

 

3,044,043

 

Barings Participation Investors

 

 

149,305

 

 

2,040,999

 

Blackrock Science & Technology Trust

 

 

97,383

 

 

5,229,467

 

BrandywineGLOBAL - Global Income Opportunities Fund, Inc.

 

 

47,208

 

 

591,044

 

Calamos Long/Short Equity & Dynamic Income Trust(a)

 

 

235,902

 

 

4,743,989

 

DTF Tax-Free Income, Inc.

 

 

183,963

 

 

2,733,690

 

Eaton Vance Floating-Rate Income Plus Fund(b)

 

 

227,905

 

 

187,828

 

Eaton Vance Floating-Rate Income Trust

 

 

432,662

 

 

6,247,639

 

Eaton Vance New York Municipal Income Trust

 

 

146,006

 

 

2,231,483

 

Eaton Vance Senior Floating-Rate Trust

 

 

222,340

 

 

3,103,866

 

Eaton Vance Senior Income Trust

 

 

1,135,930

 

 

7,588,012

 

First Eagle Senior Loan Fund(b)

 

 

24,060

 

 

108,270

 

First Trust Senior Floating Rate 2022 Target Term Fund

 

 

608,853

 

 

5,807,910

 

Gabelli Multimedia Trust, Inc.

 

 

4

 

 

38

 

Guggenheim Enhanced Equity Income Fund

 

 

417,366

 

 

3,714,557

 

Invesco Dynamic Credit Opportunities Fund

 

 

122,681

 

 

1,437,821

 

Invesco Senior Income Trust(a)

 

 

1,568,329

 

 

6,696,765

 

Kayne Anderson Midstream/Energy Fund, Inc.

 

 

316,040

 

 

2,284,969

 

Miller/Howard High Dividend Fund(a)

 

 

560,468

 

 

5,627,099

 

Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.(a)

 

 

1,034,875

 

 

6,405,876

 

NexPoint Credit Strategies Fund

 

 

120,455

 

 

1,643,006

 

Nuveen High Income November 2021 Target Term Fund

 

 

702,261

 

 

6,594,231

 

Pershing Square Holdings Ltd.

 

 

298,142

 

 

10,509,506

 

PIMCO Energy & Tactical Credit Opportunities Fund(a)

 

 

590,333

 

 

6,782,926

 

Pioneer Municipal High Income Fund, Inc.

 

 

120,052

 

 

1,582,886

 

Saba Capital Income & Opportunities Fund

 

 

2,149,451

 

 

9,844,486

 

Special Opportunities Fund, Inc.

 

 

320,791

 

 

4,933,766

 

Sprott Physical Gold and Silver Trust

 

 

315,084

 

 

5,873,166

 

Tortoise Energy Infrastructure

 

 

17,664

 

 

470,039

 

Tortoise Midstream Energy Fund

 

 

53,803

 

 

1,521,011

 

Virtus AllianzGI Convertible & Income Fund II(a)

 

 

732,597

 

 

3,882,764

 

 

TOTAL CLOSED-END FUNDS - COMMON SHARES

 

 

 

 

 

(Cost $118,399,305)

 

 

 

126,916,574

 

           

BUSINESS DEVELOPMENT COMPANIES - COMMON SHARES (3.95%)

 

 

 

 

 

Barings BDC, Inc.

 

244,481

 

2,620,836

 

First Eagle Alternative Capital BDC, Inc.

 

714,167

 

3,278,027

 

Oaktree Specialty Lending Corp.

 

363,646

 

2,469,156

 

 

 

 

 

 

 

TOTAL BUSINESS DEVELOPMENT COMPANIES - COMMON SHARES

 

 

 

 

 

(Cost $7,532,698)

 

 

 

8,368,019

 

 

 

See Notes to Financial Statements.

6

www.rivernorthcef.com

 

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Statement of Investments

 

July 31, 2021

 

 

Description

 

Shares

 

Value
(Note 2)

 

BUSINESS DEVELOPMENT COMPANIES - PREFERRED SHARES (0.41%)

 

 

 

 

 

 

 

XAI Octagon Floating Rate Alternative Income Term Trust, 6.50%, 3/31/2026

 

 

33,699

 

$

872,467

 

 

 

 

 

 

 

 

 

TOTAL BUSINESS DEVELOPMENT COMPANIES -PREFERRED SHARES

 

 

 

 

 

 

 

(Cost $842,093)

  

  

 

  

 

872,467

 

 

 

 

Principal

 

Value

 

Description

 

Amount/Shares

 

(Note 2)

 

BUSINESS DEVELOPMENT COMPANY NOTES (5.35%)

 

 

 

 

 

 

 

First Eagle Alternative Capital BDC, Inc., 6.13%, 10/30/2023

 

 

45,456

 

 

1,161,719

 

First Eagle Alternative Capital BDC, Inc., 5.00%, 5/25/2026

 

 

130,418

 

 

3,365,436

 

Oxford Square Capital Corp., 6.50%, 3/30/2024

 

 

117,106

 

 

2,960,440

 

PennantPark Floating Rate Capital, Ltd., 4.25%, 4/1/2026

 

$

2,690,000

 

 

2,724,485

 

PennantPark Investment Corp., 5.50%, 10/15/2024

 

 

30,781

 

 

779,067

 

WhiteHorse Finance, Inc., 6.50%, 11/30/2025

 

 

13,169

 

 

338,970

 

 

 

 

 

 

 

 

 

TOTAL BUSINESS DEVELOPMENT COMPANY NOTES

 

 

 

 

 

 

 

(Cost $10,820,101)

 

 

  

  

  

11,330,117

 

 

Description

 

Rate

Maturity
Date

 

Principal
Amount

 

Value
(Note 2)

 

CONVERTIBLE CORPORATE BONDS (2.17%)

 

 

 

 

 

 

 

 

 

 

 

 

 

BlackRock Capital Investment Corp.

 

 

5.000

%

 

06/15/22

 

$

1,760,565

 

 

1,783,247

 

BlackRock TCP Capital Corp.

 

 

4.625

%

 

03/01/22

 

 

699,500

 

 

716,148

 

Goldman Sachs BDC, Inc.

 

 

4.500

%

 

04/01/22

 

 

500,000

 

 

512,500

 

New Mountain Finance Corp.

 

 

5.750

%

 

08/15/23

 

 

1,493,450

 

 

1,579,398

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL CONVERTIBLE CORPORATE BONDS

 

 

 

 

 

 

 

 

 

 

 

 

 

(Cost $4,184,853)

 

 

 

 

 

 

 

 

 

 

 

4,591,293

 

 

CORPORATE BONDS (0.37%)

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Development Corp. of America(c)

 

 

4.850

%

 

12/15/24

 

 

725,000

 

 

772,793

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL CORPORATE BONDS

 

 

 

 

 

 

 

 

 

 

 

 

 

(Cost $725,000)

 

 

 

 

 

 

 

 

 

 

 

772,793

 

 

Description

 

Shares

 

Value
(Note 2)

 

SPECIAL PURPOSE ACQUISITION COMPANIES - COMMON SHARES (21.93%)(d)

 

 

 

 

 

26 Capital Acquisition Corp.

 

6,045

 

58,818

 

7GC & Co. Holdings, Inc.

 

2,490

 

24,209

 

890 5th Avenue Partners, Inc.

 

4,928

 

48,837

 

ABG Acquisition Corp. I

 

1,698

 

16,488

 

Accelerate Acquisition Corp.

 

27,091

 

261,970

 

Ace Global Business Acquisition, Ltd.

 

23,244

 

243,830

 

Ackrell Spac Partners I Co.

 

26,282

 

268,865

 

 

See Notes to Financial Statements.

 

Annual Report | July 31, 2021

7

 

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Statement of Investments

 

July 31, 2021

 

Description

 

 

Shares

 

 

Value

(Note 2)

 

Adit EdTech Acquisition Corp.

 

 

28,640

 

$

277,522

 

Advanced Merger Partners, Inc.

 

 

634

 

 

6,184

 

AF Acquisition Corp.

 

 

41,970

 

 

416,133

 

African Gold Acquisition Corp.

 

 

427

 

 

4,135

 

Agba Acquisition, Ltd.

 

 

30,883

 

 

332,301

 

Aldel Financial, Inc.

 

 

41,463

 

 

414,215

 

Alkuri Global Acquisition Corp.

 

 

4,342

 

 

42,813

 

Altimar Acquisition Corp. II

 

 

173

 

 

1,702

 

Altitude Acquisition Corp.

 

 

5,136

 

 

50,384

 

American Acquisition Opportunity, Inc.

 

 

27,091

 

 

267,118

 

America’s Technology Acquisition Corp.

 

 

18,891

 

 

188,721

 

Amplitude Healthcare Acquisition Corp.

 

 

47,778

 

 

473,480

 

Apollo Strategic Growth Capital

 

 

30,336

 

 

296,383

 

Archimedes Tech SPAC Partners Co.

 

 

54,093

 

 

538,766

 

Aries I Acquisition Corp.

 

 

30,184

 

 

307,877

 

Artisan Acquisition Corp.

 

 

23,946

 

 

239,580

 

Astrea Acquisition Corp.

 

 

10,063

 

 

97,209

 

Athlon Acquisition Corp.

 

 

54,212

 

 

527,483

 

Atlantic Avenue Acquisition Corp.

 

 

33,230

 

 

322,996

 

Atlas Crest Investment Corp. II

 

 

4,193

 

 

40,672

 

Austerlitz Acquisition Corp. I

 

 

44,509

 

 

440,639

 

Austerlitz Acquisition Corp. II

 

 

49,365

 

 

486,647

 

Authentic Equity Acquisition Corp.

 

 

2,418

 

 

23,527

 

B Riley Principal 150 Merger Corp.

 

 

1,271

 

 

12,329

 

B Riley Principal 250 Merger Corp.

 

 

2,380

 

 

23,705

 

Benessere Capital Acquisition Corp.

 

 

37,712

 

 

377,497

 

Better World Acquisition Corp.

 

 

29,581

 

 

296,697

 

Big Cypress Acquisition Corp.

 

 

24,642

 

 

244,202

 

Big Sky Growth Partners, Inc.

 

 

23,844

 

 

237,725

 

Biotech Acquisition Co.

 

 

47,978

 

 

483,254

 

Bison Capital Acquisition Corp.

 

 

17,396

 

 

170,655

 

Blue Safari Group Acquisition Corp.

 

 

49,546

 

 

502,396

 

Blue Water Acquisition Corp.

 

 

31,486

 

 

319,898

 

BlueRiver Acquisition Corp.

 

 

173

 

 

1,677

 

Breeze Holdings Acquisition Corp.

 

 

21,512

 

 

215,765

 

Bright Lights Acquisition Corp.

 

 

11,235

 

 

109,542

 

Brilliant Acquisition Corp.

 

 

11,614

 

 

116,605

 

Brookline Capital Acquisition Corp.

 

 

1

 

 

10

 

Build Acquisition Corp.

 

 

27,078

 

 

261,303

 

Burgundy Technology Acquisition Corp.

 

 

25,350

 

 

249,951

 

CA Healthcare Acquisition Corp.

 

 

1,736

 

 

17,134

 

Capstar Special Purpose Acquisition Corp.

 

 

3,882

 

 

38,082

 

Cartesian Growth Corp.

 

 

4,240

 

 

40,916

 

CC Neuberger Principal Holdings II, Class A

 

 

31,700

 

 

310,662

 

CC Neuberger Principal Holdings III

 

 

9,338

 

 

91,093

 

CF Acquisition Corp. IV

 

 

2,490

 

 

24,228

 

 

See Notes to Financial Statements.

8

www.rivernorthcef.com

 

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Statement of Investments

 

July 31, 2021

 

Description

 

Shares

 

Value

(Note 2)

 

CF Acquisition Corp. V

 

 

4,349

 

$

44,142

 

CF Acquisition Corp. VI

 

 

1,695

 

 

16,459

 

CF Acquisition Corp. VIII

 

 

27,074

 

 

267,898

 

CF Finance Acquisition Corp. III

 

 

4,542

 

 

45,738

 

Chardan Healthcare Acquisition 2 Corp.

 

 

29,794

 

 

296,152

 

Churchill Capital Corp. VI

 

 

49,545

 

 

503,336

 

Churchill Capital Corp. VII

 

 

45,420

 

 

443,753

 

Clarim Acquisition Corp.

 

 

3,479

 

 

33,747

 

Class Acceleration Corp.

 

 

6,045

 

 

58,456

 

Colicity, Inc.

 

 

1,709

 

 

16,578

 

Colombier Acquisition Corp.

 

 

42,080

 

 

417,434

 

Concord Acquisition Corp.

 

 

11,517

 

 

116,783

 

Corazon Capital V838 Monoceros Corp.

 

 

19,198

 

 

192,556

 

Corner Growth Acquisition Corp.

 

 

6,261

 

 

60,857

 

COVA Acquisition Corp.

 

 

4,342

 

 

41,944

 

Cyxtera Technologies, Inc.

 

 

19,242

 

 

182,607

 

D & Z Media Acquisition Corp.

 

 

1,062

 

 

10,285

 

Data Knights Acquisition Corp.

 

 

35,695

 

 

372,477

 

DD3 Acquisition Corp. II

 

 

30,713

 

 

304,366

 

Deep Lake Capital Acquisition Corp.

 

 

246

 

 

2,384

 

Delwinds Insurance Acquisition Corp.

 

 

41,411

 

 

421,150

 

DHC Acquisition Corp.

 

 

17,065

 

 

165,872

 

DiamondHead Holdings Corp.

 

 

212

 

 

2,056

 

DILA Capital Acquisition Corp.

 

 

50,541

 

 

510,717

 

Dune Acquisition Corp.

 

 

18,959

 

 

184,851

 

East Resources Acquisition Co.

 

 

27,990

 

 

273,182

 

East Stone Acquisition Corp.

 

 

41,399

 

 

418,130

 

Edify Acquisition Corp.

 

 

28,306

 

 

273,719

 

EdtechX Holdings Acquisition Corp. II

 

 

12,607

 

 

125,440

 

EJF Acquisition Corp.

 

 

4,258

 

 

41,260

 

Empowerment & Inclusion Capital I Corp.

 

 

13,658

 

 

133,302

 

EQ Health Acquisition Corp.

 

 

4,349

 

 

41,947

 

Eucrates Biomedical Acquisition Corp.

 

 

24,174

 

 

235,455

 

European Sustainable Growth Acquisition Corp.

 

 

2,153

 

 

21,089

 

Far Peak Acquisition Corp.

 

 

37,841

 

 

376,141

 

Fast Acquisition Corp. II

 

 

3

 

 

30

 

FAST Acquisition Corp. II

 

 

27,116

 

 

264,652

 

Fintech Evolution Acquisition Group

 

 

1,706

 

 

16,515

 

Flame Acquisition Corp.

 

 

4,258

 

 

41,175

 

Foresight Acquisition Corp.

 

 

8,448

 

 

83,297

 

Fortistar Sustainable Solutions Corp.

 

 

8,683

 

 

84,052

 

Fortress Value Acquisition Corp. III

 

 

6,182

 

 

60,275

 

FoxWayne Enterprises Acquisition Corp.

 

 

12,095

 

 

118,289

 

FS Development Corp. II

 

 

849

 

 

8,397

 

FTAC Athena Acquisition Corp.

 

 

1,689

 

 

16,578

 

Fusion Acquisition Corp.

 

 

5,316

 

 

52,788

 

 

See Notes to Financial Statements.

 

Annual Report | July 31, 2021

9

 

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Statement of Investments

 

July 31, 2021

 

Description

 

Shares

 

Value
(Note 2)

 

Fusion Acquisition Corp. II

 

 

8,540

 

$

82,668

 

G Squared Ascend II, Inc.

 

 

25,270

 

 

252,700

 

Galileo Acquisition Corp.

 

 

9,373

 

 

93,730

 

Genesis Park Acquisition Corp.

 

 

21,842

 

 

219,294

 

GigCapital4, Inc.

 

 

12,658

 

 

127,972

 

GigInternational1, Inc.

 

 

48,296

 

 

496,966

 

Glass Houses Acquisition Corp.

 

 

3,999

 

 

40,750

 

Global Consumer Acquisition Corp.

 

 

24,752

 

 

246,901

 

Global SPAC Partners Co.

 

 

40,780

 

 

404,130

 

Globis Acquisition Corp.

 

 

37,823

 

 

377,284

 

Golden Falcon Acquisition Corp.

 

 

2,529

 

 

24,557

 

Goldenbridge Acquisition, Ltd.

 

 

29,011

 

 

283,728

 

Good Works Acquisition Corp.

 

 

11,977

 

 

118,812

 

Gores Holdings VII, Inc.

 

 

11,060

 

 

108,941

 

Gores Metropoulos II, Inc.

 

 

4,033

 

 

39,677

 

Graf Acquisition Corp. IV

 

 

48,324

 

 

479,132

 

Greenrose Acquisition Corp.

 

 

74,128

 

 

741,280

 

Growth Capital Acquisition Corp.

 

 

21,746

 

 

211,589

 

Healthcare Capital Corp.

 

 

6,045

 

 

59,423

 

Healthcare Services Acquisition Corp.

 

 

1,866

 

 

18,044

 

HealthCor Catalio Acquisition Corp.

 

 

1,736

 

 

17,169

 

Hennessy Capital Investment Corp. V

 

 

28,423

 

 

283,947

 

IG Acquisition Corp.

 

 

30,762

 

 

299,930

 

Ignyte Acquisition Corp.

 

 

3,466

 

 

33,308

 

Industrial Tech Acquisitions, Inc.

 

 

33,034

 

 

330,340

 

InterPrivate II Acquisition Corp.

 

 

4,801

 

 

46,652

 

InterPrivate III Financial Partners, Inc.

 

 

5,336

 

 

51,759

 

Isleworth Healthcare Acquisition Corp.

 

 

39,372

 

 

384,271

 

Isos Acquisition Corp.

 

 

25,629

 

 

251,250

 

ITHAX Acquisition Corp.

 

 

4,332

 

 

41,836

 

Jack Creek Investment Corp.

 

 

9,700

 

 

94,187

 

Jaws Mustang Acquisition Corp.

 

 

44,988

 

 

439,533

 

Kadem Sustainable Impact Corp.

 

 

27,306

 

 

272,241

 

Kairos Acquisition Corp.

 

 

9,996

 

 

96,561

 

Khosla Ventures Acquisition Co. III

 

 

16,886

 

 

167,509

 

Kingswood Acquisition Corp.

 

 

20,079

 

 

202,097

 

KINS Technology Group, Inc.

 

 

12,594

 

 

124,429

 

KKR Acquisition Holdings I Corp.

 

 

28,335

 

 

274,780

 

KL Acquisition Corp.

 

 

1,406

 

 

13,681

 

KludeIn I Acquisition Corp.

 

 

8,545

 

 

83,314

 

L&F Acquisition Corp.

 

 

18,120

 

 

180,475

 

Lakeshore Acquisition I Corp.

 

 

20,161

 

 

205,642

 

Legato Merger Corp.

 

 

7,257

 

 

73,876

 

Lifesci Acquisition II Corp.

 

 

8,031

 

 

79,507

 

LightJump Acquisition Corp.

 

 

28,126

 

 

275,354

 

Lionheart Acquisition Corp. II

 

 

33,322

 

 

326,222

 

 

See Notes to Financial Statements.

 

10

www.rivernorthcef.com

 

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Statement of Investments

 

July 31, 2021

 

Description

 

Shares

 

Value
(Note 2)

 

LIV Capital Acquisition Corp.

 

 

46,360

 

$

464,991

 

Live Oak Acquisition Corp. II

 

 

12,590

 

 

125,775

 

LMF Acquisition Opportunities, Inc.

 

 

31,863

 

 

312,136

 

Locust Walk Acquisition Corp.

 

 

7,031

 

 

69,467

 

Longview Acquisition Corp. II

 

 

4,025

 

 

39,461

 

Malacca Straits Acquisition Co., Ltd.

 

 

11,182

 

 

110,702

 

Maquia Capital Acquisition Corp.

 

 

47,248

 

 

477,441

 

Marlin Technology Corp.

 

 

2,468

 

 

23,965

 

MCAP Acquisition Corp.

 

 

4,270

 

 

42,074

 

MDH Acquisition Corp.

 

 

16,913

 

 

166,086

 

Medicus Sciences Acquisition Corp.

 

 

8,473

 

 

81,426

 

Merida Merger Corp. I

 

 

61,365

 

 

613,036

 

Model Performance Acquisition Corp.

 

 

40,612

 

 

437,391

 

Montes Archimedes Acquisition Corp.

 

 

12,286

 

 

121,754

 

Monument Circle Acquisition Corp.

 

 

2,448

 

 

23,749

 

Moringa Acquisition Corp.

 

 

5,095

 

 

49,142

 

Mountain Crest Acquisition Corp. II

 

 

34,613

 

 

343,364

 

Mountain Crest Acquisition Corp. III

 

 

48,112

 

 

496,035

 

New Vista Acquisition Corp.

 

 

169

 

 

1,633

 

Newbury Street Acquisition Corp.

 

 

42,162

 

 

407,285

 

NextGen Acquisition Corp.

 

 

12,285

 

 

122,359

 

NextGen Acquisition Corp. II

 

 

27,222

 

 

276,848

 

Noble Rock Acquisition Corp.

 

 

12,685

 

 

123,045

 

Nocturne Acquisition Corp.

 

 

36,206

 

 

357,024

 

North Atlantic Acquisition Corp.

 

 

10,769

 

 

104,675

 

Novus Capital Corp. II

 

 

1,677

 

 

16,228

 

OceanTech Acquisitions I Corp.

 

 

48,836

 

 

502,522

 

Omega Alpha SPAC

 

 

280

 

 

2,750

 

Omnichannel Acquisition Corp.

 

 

20,080

 

 

197,788

 

Orion Biotech Opportunities Corp.

 

 

42,045

 

 

418,768

 

Osiris Acquisition Corp.

 

 

47,892

 

 

478,920

 

Oyster Enterprises Acquisition Corp.

 

 

18,143

 

 

176,159

 

Pathfinder Acquisition Corp.

 

 

169

 

 

1,676

 

Periphas Capital Partnering Corp.

 

 

10,140

 

 

244,881

 

Petra Acquisition, Inc.

 

 

29,221

 

 

292,502

 

Pivotal Investment Corp. III

 

 

168

 

 

1,626

 

Post Holdings Partnering Corp.

 

 

12,161

 

 

123,966

 

Power & Digital Infrastructure Acquisition Corp.

 

 

844

 

 

8,273

 

Priveterra Acquisition Corp.

 

 

6,751

 

 

64,967

 

Progress Acquisition Corp.

 

 

8,439

 

 

82,070

 

Property Solutions Acquisition Corp. II

 

 

60,171

 

 

580,651

 

PropTech Investment Corp. II

 

 

12,488

 

 

121,883

 

Prospector Capital Corp.

 

 

1,406

 

 

13,578

 

PTK Acquisition Corp.

 

 

32,769

 

 

324,413

 

Quantum FinTech Acquisition Corp.

 

 

30,397

 

 

296,523

 

Recharge Acquisition Corp.

 

 

15,381

 

 

151,349

 

 

See Notes to Financial Statements.

 

Annual Report | July 31, 2021

11

 

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Statement of Investments

 

July 31, 2021

   

Description

 

Shares

 

 

Value
(Note 2)

 

RedBall Acquisition Corp.

 

 

19,827

 

 

$

193,908

 

RMG Acquisition Corp. III

 

 

347

 

 

 

3,408

 

Sandbridge X2 Corp.

 

 

17,371

 

 

 

168,933

 

ScION Tech Growth I

 

 

6,261

 

 

 

61,045

 

ScION Tech Growth II

 

 

40,699

 

 

 

393,967

 

Senior Connect Acquisition Corp. I

 

 

48,836

 

 

 

490,802

 

Seven Oaks Acquisition Corp.

 

 

36,908

 

 

 

365,020

 

Silver Spike Acquisition Corp. II

 

 

6,761

 

 

 

65,531

 

Soaring Eagle Acquisition Corp.

 

 

44,683

 

 

 

441,022

 

Spartan Acquisition Corp. III, Class A

 

 

19,528

 

 

 

192,351

 

SPK Acquisition Corp.

 

 

46,987

 

 

 

479,267

 

Sports Entertainment Acquisition Corp.

 

 

31,852

 

 

 

315,335

 

SportsTek Acquisition Corp.

 

 

12,737

 

 

 

122,912

 

Star Peak Corp. II

 

 

2,499

 

 

 

24,678

 

Sustainable Development Acquisition I Corp.

 

 

2,738

 

 

 

26,586

 

Sustainable Opportunities Acquisition Corp.

 

 

16,120

 

 

 

159,910

 

SVF Investment Corp.

 

 

281

 

 

 

2,740

 

SVF Investment Corp. 2

 

 

268

 

 

 

2,621

 

SVF Investment Corp. 3

 

 

36,465

 

 

 

357,357

 

Tailwind Acquisition Corp.

 

 

13,098

 

 

 

130,980

 

Tailwind International Acquisition Corp.

 

 

3,390

 

 

 

33,680

 

Tastemaker Acquisition Corp.

 

 

33,891

 

 

 

328,404

 

Tech and Energy Transition Corp.

 

 

27,052

 

 

 

269,979

 

Tekkorp Digital Acquisition Corp.

 

 

24,288

 

 

 

235,836

 

Thayer Ventures Acquisition Corp.

 

 

44,511

 

 

 

446,001

 

Thimble Point Acquisition Corp.

 

 

34,160

 

 

 

337,957

 

Trebia Acquisition Corp.

 

 

26,422

 

 

 

261,314

 

Tuscan Holdings Corp. II

 

 

92,638

 

 

 

929,160

 

Twelve Seas Investment Co. II

 

 

6,832

 

 

 

65,997

 

Union Acquisition Corp. II

 

 

10,363

 

 

 

104,666

 

USHG Acquisition Corp.

 

 

851

 

 

 

8,207

 

VectoIQ Acquisition Corp.

 

 

1,404

 

 

 

13,609

 

Ventoux CCM Acquisition Corp.

 

 

35,388

 

 

 

351,049

 

Venus Acquisition Corp.

 

 

16,878

 

 

 

168,186

 

Vickers Vantage Corp. I

 

 

70,219

 

 

 

698,679

 

Vistas Media Acquisition Co., Inc.

 

 

25,796

 

 

 

256,928

 

Viveon Health Acquisition Corp.

 

 

32,618

 

 

 

323,244

 

Yellowstone Acquisition Co.

 

 

24,288

 

 

 

244,094

 

Yunhong International

 

 

49,212

 

 

 

499,502

 

Z-Work Acquisition Corp.

 

 

1,739

 

 

 

16,741

 

             

TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES - COMMON SHARES

 

 

 

 

 

 

(Cost $45,142,600)

 

 

 

 

 

 

46,424,552

 

 

 

 

 

 

 

 

 

 

RIGHTS (0.09%)(d)

 

 

 

 

 

 

 

 

Agba Acquisition, Ltd., Strike Price $11.50, Expires 12/31/2049

 

 

30,883

 

 

 

13,808

 

 

See Notes to Financial Statements.

 

12

www.rivernorthcef.com

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Statement of Investments

 

July 31, 2021

 

Description

 

Shares

 

 

Value
(Note 2)

 

Alberton Acquisition Corp., Strike Price $0.01, Expires 12/31/2049

 

 

22,730

 

 

$

11,136

 

Allegro Merger Corp., Strike Price $11.50, Expires 12/31/2049

 

 

24,649

 

 

 

 

Benessere Capital Acquisition Corp., Strike Price $0.01, Expires 12/31/2049

 

 

37,712

 

 

 

14,331

 

Breeze Holdings Acquisition Corp., Strike Price $11.50, Expires 05/25/2027

 

 

21,512

 

 

 

5,109

 

Brilliant Acquisition Corp., Strike Price $11.50, Expires 12/31/2025

 

 

11,614

 

 

 

4,954

 

East Stone Acquisition Corp., Strike Price $11.50, Expires 12/31/2026

 

 

41,399

 

 

 

14,904

 

Gabelli Multimedia Trust, Inc., Strike Price $9.50, Expires 08/26/2021

 

 

4

 

 

 

 

Goldenbridge Acquisition, Ltd., Strike Price $0.01, Expires 12/31/2049

 

 

29,011

 

 

 

11,024

 

Greenvision Acquisition Corp., Strike Price $11.50, Expires 10/28/2024

 

 

65,740

 

 

 

47,842

 

Mountain Crest Acquisition Corp. II, Strike Price $0.01, Expires 04/08/2022

 

 

34,613

 

 

 

24,918

 

Ventoux CCM Acquisition Corp., Strike Price $0.01, Expires 12/31/2049

 

 

35,388

 

 

 

7,785

 

Venus Acquisition Corp., Strike Price $11.50, Expires 12/31/2017

 

 

16,878

 

 

 

9,789

 

Viveon Health Acquisition Corp., Strike Price $0.01, Expires 12/31/2049

 

 

32,618

 

 

 

7,835

 

Yunhong International, Strike Price $10.07, Expires 01/31/2027

 

 

49,212

 

 

 

19,463

 

 

 

 

 

 

 

 

 

 

TOTAL RIGHTS

 

 

 

 

 

 

 

 

(Cost $125,031)

 

 

 

 

 

 

192,898

 

 

 

 

 

 

 

 

 

 

WARRANTS (0.75%)(d)

 

 

 

 

 

 

 

 

26 Capital Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

3,022

 

 

 

3,143

 

7GC & Co. Holdings, Inc., Strike Price $11.50, Expires 12/31/2026

 

 

1,245

 

 

 

940

 

890 5th Avenue Partners, Inc., Strike Price $11.50, Expires 12/31/2027

 

 

1,642

 

 

 

2,348

 

Accelerate Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

9,030

 

 

 

11,378

 

Adit EdTech Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

14,320

 

 

 

8,406

 

Advanced Merger Partners, Inc., Strike Price $11.50, Expires 06/30/2026

 

 

105

 

 

 

130

 

African Gold Acquisition Corp., Strike Price $11.50, Expires 03/13/2028

 

 

318

 

 

 

181

 

 

See Notes to Financial Statements.

 

Annual Report | July 31, 2021

13

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Statement of Investments

 

July 31, 2021

 

Description

 

Shares

 

 

Value
(Note 2)

 

Agba Acquisition, Ltd., Strike Price $11.50, Expires 05/10/2024

 

 

30,883

 

 

$

9,234

 

Alkuri Global Acquisition Corp., Strike Price $11.50, Expires 01/01/2028

 

 

1,085

 

 

 

1,714

 

Allegro Merger Corp., Strike Price $11.50, Expires 01/07/2025

 

 

24,649

 

 

 

 

Altimar Acquisition Corp. II, Strike Price $11.50, Expires 12/31/2027

 

 

43

 

 

 

55

 

Altitude Acquisition Corp., Strike Price $11.50, Expires 11/30/2027

 

 

698

 

 

 

544

 

American Acquisition Opportunity, Inc., Strike Price $11.50, Expires 05/28/2026

 

 

13,545

 

 

 

9,739

 

America’s Technology Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

9,445

 

 

 

6,692

 

Amplitude Healthcare Acquisition Corp., Strike Price $11.50, Expires 12/01/2026

 

 

23,889

 

 

 

25,083

 

Apollo Strategic Growth Capital, Strike Price $11.50, Expires 10/29/2027

 

 

10,112

 

 

 

10,921

 

Astrea Acquisition Corp., Strike Price $11.50, Expires 01/13/2026

 

 

5,031

 

 

 

3,623

 

Athlon Acquisition Corp., Strike Price $11.50, Expires 03/05/2026

 

 

27,106

 

 

 

20,224

 

Atlantic Avenue Acquisition Corp., Strike Price $11.50, Expires 12/31/2025

 

 

16,615

 

 

 

14,953

 

Austerlitz Acquisition Corp. I, Strike Price $11.50, Expires 02/19/2026

 

 

11,127

 

 

 

15,578

 

Austerlitz Acquisition Corp. II, Strike Price $11.50, Expires 12/31/2027

 

 

6,734

 

 

 

8,148

 

Authentic Equity Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

1,209

 

 

 

921

 

B Riley Principal 150 Merger Corp., Strike Price $11.50, Expires 03/01/2028

 

 

423

 

 

 

508

 

Benessere Capital Acquisition Corp., Strike Price $0.01, Expires 12/31/2027

 

 

28,284

 

 

 

15,983

 

Better World Acquisition Corp., Strike Price $11.50, Expires 11/15/2027

 

 

29,581

 

 

 

27,806

 

Big Cypress Acquisition Corp., Strike Price $11.50, Expires 12/07/2025

 

 

12,321

 

 

 

8,379

 

Biotech Acquisition Co., Strike Price $11.50, Expires 11/30/2027

 

 

2,655

 

 

 

2,389

 

Bison Capital Acquisition Corp., Strike Price $11.50, Expires 08/31/2027

 

 

8,698

 

 

 

10,525

 

Blue Water Acquisition Corp., Strike Price $11.50, Expires 08/31/2027

 

 

31,486

 

 

 

23,614

 

BlueRiver Acquisition Corp., Strike Price $11.50, Expires 01/04/2026

 

 

57

 

 

 

51

 

 

See Notes to Financial Statements.

 

14

www.rivernorthcef.com

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Statement of Investments

 

July 31, 2021

 

Description

 

Shares

 

 

Value
(Note 2)

 

Breeze Holdings Acquisition Corp., Strike Price $11.50, Expires 05/25/2027

 

 

21,512

 

 

$

13,553

 

Bright Lights Acquisition Corp., Strike Price $11.50, Expires 01/01/2028

 

 

5,617

 

 

 

5,055

 

Brilliant Acquisition Corp., Strike Price $11.50, Expires 12/31/2025

 

 

6,735

 

 

 

3,704

 

Build Acquisition Corp., Strike Price $11.50, Expires 04/29/2023

 

 

9,026

 

 

 

8,036

 

Burgundy Technology Acquisition Corp., Strike Price $11.50, Expires 10/05/2025

 

 

12,675

 

 

 

10,772

 

CA Healthcare Acquisition Corp., Strike Price $11.50, Expires 12/25/2025

 

 

868

 

 

 

712

 

Capstar Special Purpose Acquisition Corp., Strike Price $11.50, Expires 07/09/2027

 

 

1,941

 

 

 

1,689

 

Cartesian Growth Corp., Strike Price $11.50, Expires 12/31/2027

 

 

1,413

 

 

 

1,272

 

CC Neuberger Principal Holdings II, Strike Price $11.50, Expires 07/29/2025

 

 

7,925

 

 

 

9,510

 

CC Neuberger Principal Holdings III, Strike Price $11.50, Expires 12/31/2027

 

 

1,867

 

 

 

2,166

 

CF Acquisition Corp. IV, Strike Price $11.50, Expires 12/14/2025

 

 

830

 

 

 

847

 

CF Acquisition Corp. VI, Strike Price $11.50, Expires 02/18/2028

 

 

423

 

 

 

491

 

CF Acquisition Corp. VIII, Strike Price $11.50, Expires 12/31/2027

 

 

6,768

 

 

 

8,257

 

CF Finance Acquisition Corp. III, Strike Price $11.50, Expires 09/30/2027

 

 

1,514

 

 

 

2,256

 

Chardan Healthcare Acquisition 2 Corp., Strike Price $11.50, Expires 03/05/2025

 

 

29,794

 

 

 

18,606

 

Churchill Capital Corp. VI, Strike Price $11.50, Expires 12/31/2027

 

 

326

 

 

 

551

 

Churchill Capital Corp. VII, Strike Price $11.50, Expires 02/29/2028

 

 

9,084

 

 

 

10,719

 

Clarim Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

1,159

 

 

 

997

 

Class Acceleration Corp., Strike Price $11.50, Expires 03/31/2028

 

 

3,022

 

 

 

2,297

 

Colicity, Inc., Strike Price $11.50, Expires 12/31/2027

 

 

341

 

 

 

375

 

Concord Acquisition Corp., Strike Price $11.50, Expires 11/28/2025

 

 

5,758

 

 

 

10,192

 

Corner Growth Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

2,087

 

 

 

2,317

 

COVA Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

2,171

 

 

 

1,622

 

 

See Notes to Financial Statements.

 

Annual Report | July 31, 2021

15

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Statement of Investments

 

July 31, 2021

 

Description

 

Shares

 

 

Value
(Note 2)

 

D & Z Media Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

354

 

 

$

318

 

DD3 Acquisition Corp. II, Strike Price $11.50, Expires 12/10/2027

 

 

15,356

 

 

 

20,731

 

Deep Lake Capital Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

123

 

 

 

101

 

DHC Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

5,688

 

 

 

6,513

 

DiamondHead Holdings Corp., Strike Price $11.50, Expires 01/28/2028

 

 

53

 

 

 

58

 

Dune Acquisition Corp., Strike Price $11.50, Expires 10/29/2027

 

 

9,479

 

 

 

7,015

 

East Resources Acquisition Co., Strike Price $11.50, Expires 07/01/2027

 

 

13,995

 

 

 

12,036

 

Edify Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

14,153

 

 

 

11,322

 

EdtechX Holdings Acquisition Corp. II, Strike Price $11.50, Expires 06/15/2027

 

 

6,303

 

 

 

3,914

 

EJF Acquisition Corp., Strike Price $11.50, Expires 02/28/2027

 

 

1,419

 

 

 

1,225

 

Empowerment & Inclusion Capital I Corp., Strike Price $11.50, Expires 01/12/2028

 

 

6,829

 

 

 

5,394

 

Ensysce Biosciences, Inc., Strike Price $11.50, Expires 02/01/2026

 

 

28,414

 

 

 

22,234

 

EQ Health Acquisition Corp., Strike Price $11.50, Expires 02/02/2028

 

 

2,174

 

 

 

1,554

 

Eucrates Biomedical Acquisition Corp., Strike Price $11.50, Expires 12/14/2025

 

 

8,058

 

 

 

6,770

 

European Sustainable Growth Acquisition Corp., Strike Price $11.50, Expires 01/21/2028

 

 

1,076

 

 

 

1,313

 

Evolv Technologies Holdings, Inc., Strike Price $11.50, Expires 07/16/2026

 

 

27,277

 

 

 

37,642

 

Far Peak Acquisition Corp., Strike Price $11.50, Expires 12/07/2025

 

 

12,613

 

 

 

23,965

 

FAST Acquisition Corp. II, Strike Price $11.50, Expires 03/16/2026

 

 

6,779

 

 

 

8,406

 

Fintech Evolution Acquisition Group, Strike Price $11.50, Expires 03/31/2028

 

 

568

 

 

 

562

 

Flame Acquisition Corp., Strike Price $11.50, Expires 12/31/2028

 

 

2,129

 

 

 

2,491

 

Foresight Acquisition Corp., Strike Price $11.50, Expires 01/31/2027

 

 

2,816

 

 

 

3,520

 

Fortistar Sustainable Solutions Corp., Strike Price $11.50, Expires 12/31/2027

 

 

4,341

 

 

 

4,384

 

Fortress Value Acquisition Corp. III, Strike Price $11.50, Expires 12/31/2027

 

 

1,236

 

 

 

1,471

 

 

See Notes to Financial Statements.

 

16

www.rivernorthcef.com

 

 

 

 

RiverNorth Opportunities Fund, Inc.

Statement of Investments

 

July 31, 2021

 

Description

 

Shares

 

 

Value

 (Note 2)

 

FoxWayne Enterprises Acquisition Corp., Strike Price $11.50, Expires 01/12/2026

 

 

12,095

 

 

$

7,257

 

FTAC Athena Acquisition Corp., Strike Price $11.50, Expires 03/01/2026

 

 

422

 

 

 

578

 

Fusion Acquisition Corp., Strike Price $11.50, Expires 06/01/2027

 

 

2,658

 

 

 

3,216

 

Fusion Acquisition Corp. II, Strike Price $11.50, Expires 12/31/2027

 

 

2,846

 

 

 

2,476

 

Galileo Acquisition Corp., Strike Price $11.50, Expires 10/31/2026

 

 

9,373

 

 

 

9,364

 

Genesis Park Acquisition Corp., Strike Price $11.50, Expires 05/27/2027

 

 

10,921

 

 

 

21,842

 

Global SPAC Partners Co., Strike Price $11.50, Expires 11/30/2027

 

 

20,390

 

 

 

11,622

 

Globis Acquisition Corp., Strike Price $11.50, Expires 11/01/2025

 

 

37,823

 

 

 

25,892

 

Golden Falcon Acquisition Corp., Strike Price $11.50, Expires 11/04/2026

 

 

1,264

 

 

 

1,074

 

Goldenbridge Acquisition, Ltd., Strike Price $11.50, Expires 10/28/2025

 

 

29,011

 

 

 

9,225

 

Good Works Acquisition Corp., Strike Price $11.50, Expires 10/23/2025

 

 

5,988

 

 

 

10,060

 

Gores Metropoulos II, Inc., Strike Price $11.50, Expires 01/31/2028

 

 

806

 

 

 

1,136

 

Greenrose Acquisition Corp., Strike Price $11.50, Expires 05/11/2024

 

 

74,128

 

 

 

42,505

 

Growth Capital Acquisition Corp., Strike Price $11.50, Expires 06/01/2027

 

 

10,873

 

 

 

7,501

 

Healthcare Capital Corp., Strike Price $11.50, Expires 03/08/2025

 

 

3,022

 

 

 

2,176

 

Healthcare Services Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

933

 

 

 

765

 

Hennessy Capital Investment Corp. V, Strike Price $11.50, Expires 01/11/2026

 

 

7,105

 

 

 

10,444

 

Holley, Inc., Strike Price $11.50, Expires 11/30/2027

 

 

4,095

 

 

 

11,835

 

IG Acquisition Corp., Strike Price $11.50, Expires 10/05/2027

 

 

15,381

 

 

 

15,535

 

Ignyte Acquisition Corp., Strike Price $11.50, Expires 12/31/2027

 

 

1,733

 

 

 

1,698

 

Industrial Tech Acquisitions, Inc., Strike Price $11.50, Expires 06/08/2027

 

 

33,034

 

 

 

35,346

 

InterPrivate II Acquisition Corp., Strike Price $11.50, Expires 12/31/2028

 

 

960

 

 

 

1,094

 

InterPrivate III Financial Partners, Inc., Strike Price $11.50, Expires 12/31/2027

 

 

1,067

 

 

 

1,099

 

Isleworth Healthcare Acquisition Corp., Strike Price $11.50, Expires 08/02/2027

 

 

19,686

 

 

 

14,392

 

 

See Notes to Financial Statements.

 

Annual Report | July 31, 2021

17

 

 

 

 

RiverNorth Opportunities Fund, Inc. Statement of Investments
    July 31, 2021

 

     Value  
Description  Shares  (Note 2)  
Isos Acquisition Corp., Strike Price $11.50, Expires 03/01/2026  8,543 $ 10,679 
ITHAX Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  2,166   1,397 
Jack Creek Investment Corp., Strike Price $11.50, Expires 12/31/2027  4,850   4,268 
Jaws Mustang Acquisition Corp., Strike Price $11.50, Expires 01/30/2026  11,247   13,046 
Kairos Acquisition Corp., Strike Price $11.50, Expires 05/01/2027  4,998   3,399 
Kingswood Acquisition Corp., Strike Price $11.50, Expires 05/01/2027  15,057   10,442 
KINS Technology Group, Inc., Strike Price $11.50, Expires 12/31/2025  6,297   4,912 
KKR Acquisition Holdings I Corp., Strike Price $11.50, Expires 12/31/2027  7,083   8,570 
KL Acquisition Corp., Strike Price $11.50, Expires 01/12/2028  468   365 
KLDiscovery, Inc., Strike Price $11.50, Expires 12/01/2025  6,308   1,615 
KludeIn I Acquisition Corp., Strike Price $11.50, Expires 08/07/2027  4,272   3,247 
L&F Acquisition Corp., Strike Price $11.50, Expires 05/23/2027  9,060   7,247 
Legato Merger Corp., Strike Price $11.50, Expires 12/31/2025  7,257   13,571 
LightJump Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  14,063   11,110 
Lionheart Acquisition Corp. II, Strike Price $11.50, Expires 02/14/2026  16,661   14,828 
LIV Capital Acquisition Corp., Strike Price $11.50, Expires 01/10/2025  46,360   60,732 
Live Oak Acquisition Corp. II, Strike Price $11.50, Expires 12/07/2025  4,196   8,770 
LMF Acquisition Opportunities, Inc., Strike Price $11.50, Expires 01/31/2027  31,863   17,646 
Locust Walk Acquisition Corp., Strike Price $11.50, Expires 12/31/2025  2,343   1,948 
Longview Acquisition Corp. II, Strike Price $11.50, Expires 05/10/2026  805   1,151 
Malacca Straits Acquisition Co., Ltd., Strike Price $11.50, Expires 06/30/2027  5,591   3,914 
Marlin Technology Corp., Strike Price $11.50, Expires 03/05/2026  822   978 
MCAP Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  1,423   1,437 
MDH Acquisition Corp., Strike Price $11.50, Expires 02/02/2028  8,456   5,920 

 

See Notes to Financial Statements.      
18

www.rivernorthcef.com

 

 

 

 

RiverNorth Opportunities Fund, Inc. Statement of Investments
      July 31, 2021

 

     Value  
Description  Shares  (Note 2)  
Medicus Sciences Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  941 $ 1,176 
Merida Merger Corp. I, Strike Price $11.50, Expires 11/07/2026  30,682   33,443 
Montes Archimedes Acquisition Corp., Strike Price $11.50, Expires 12/31/2025  6,143   8,662 
Monument Circle Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  1,224   1,025 
Moringa Acquisition Corp., Strike Price $11.50, Expires 02/10/2026  2,547   1,656 
New Vista Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  56   59 
Newbury Street Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  21,081   15,600 
Noble Rock Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  4,228   3,974 
Nocturne Acquisition Corp., Strike Price $0.01, Expires 12/29/2025  36,206   16,079 
North Atlantic Acquisition Corp., Strike Price $11.50, Expires 10/20/2025  3,589   4,163 
Novus Capital Corp. II, Strike Price $11.50, Expires 12/31/2027  559   643 
Omnichannel Acquisition Corp., Strike Price $11.50, Expires 12/30/2027  10,040   10,744 
OppFi, Inc., Strike Price $11.50, Expires 08/31/2027  13,538   25,858 
Owlet, Inc., Strike Price $11.50, Expires 07/15/2026  11,845   15,160 
Oyster Enterprises Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  9,071   5,997 
Pathfinder Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  33   34 
Periphas Capital Partnering Corp., Strike Price $28.75, Expires 12/10/2028  2,535   5,197 
Petra Acquisition, Inc., Strike Price $11.50, Expires 05/25/2027  29,221   18,994 
Pivotal Investment Corp. III, Strike Price $11.50, Expires 12/31/2027  33   39 
Power & Digital Infrastructure Acquisition Corp., Strike Price $11.50, Expires 02/12/2028  211   420 
Priveterra Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  2,250   2,205 
Progress Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  4,219   2,827 
Property Solutions Acquisition Corp. II, Strike Price $11.50, Expires 03/01/2026  15,042   19,855 
PropTech Investment Corp. II, Strike Price $11.50, Expires 12/31/2027  4,162   4,204 

 

See Notes to Financial Statements.        
Annual Report | July 31, 2021       19

 

 

 

 

RiverNorth Opportunities Fund, Inc. Statement of Investments
      July 31, 2021

 

     Value  
Description  Shares  (Note 2)  
Prospector Capital Corp., Strike Price $11.50, Expires 01/01/2025  468 $ 412 
PTK Acquisition Corp., Strike Price $11.50, Expires 12/31/2025  32,769   14,746 
Quantum FinTech Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  30,397   10,183 
Recharge Acquisition Corp., Strike Price $11.50, Expires 10/05/2027  7,690   6,081 
RedBall Acquisition Corp., Strike Price $11.50, Expires 08/17/2022  6,609   5,948 
REE Automotive, Ltd., Strike Price $11.50, Expires 07/22/2026  17,980   22,115 
Reservoir Media, Inc., Strike Price $11.50, Expires 09/16/2025  3,151   3,970 
RMG Acquisition Corp. III, Strike Price $11.50, Expires 12/31/2027  69   678 
Sandbridge X2 Corp., Strike Price $11.50, Expires 12/31/2027  5,790   6,051 
ScION Tech Growth I, Strike Price $11.50, Expires 11/01/2025  2,087   2,191 
ScION Tech Growth II, Strike Price $11.50, Expires 01/28/2026  13,566   12,112 
Seven Oaks Acquisition Corp., Strike Price $11.50, Expires 12/22/2025  18,454   18,454 
Silver Spike Acquisition Corp. II, Strike Price $11.50, Expires 02/26/2026  1,690   2,079 
Soaring Eagle Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  8,936   20,017 
Sports Entertainment Acquisition Corp., Strike Price $11.50, Expires 10/30/2025  15,926   29,304 
SportsTek Acquisition Corp., Strike Price $11.50, Expires 12/31/2027  6,368   4,643 
Star Peak Corp. II, Strike Price $11.50, Expires 12/24/2025  624   987 
Sustainable Development Acquisition I Corp., Strike Price $11.50, Expires 12/31/2028  1,369   1,173 
Sustainable Opportunities Acquisition Corp., Strike Price $11.50, Expires 06/26/2025  8,060   10,881