What is the subscription price and discount of the rights compared to the current market price?

Subscription price & discount

The release only tells us that RiverNorth Opportunities Fund, Inc. (“RIV”) will issue transferable subscription rights to its shareholders, but it does not disclose the actual subscription price or the resulting discount relative to the fund’s prevailing market price. Those specifics are normally set out in the offering circular (the “prospectus”) that accompanies a rights offering and are required to be filed with the SEC.

What to do next

• Check the filing – Look for RIV’s Form 8‑K (or the accompanying prospectus supplement) on the SEC’s EDGAR database or the company’s investor‑relations site. That document will list the subscription price per share (often expressed as a fixed dollar amount or a percentage of the current market price) and the calculation of the discount (e.g., “rights allow purchase at $9.50 per share, representing a 12% discount to the 5‑day VWAP of $10.80”).
  
• Calculate the discount – Once the subscription price is known, compute the discount as:
  

[
\text{Discount \%} = \frac{\text{Current Market Price} - \text{Subscription Price}}{\text{Current Market Price}} \times 100
]

• Trading implication – A sizable discount (typically 10‑15% or more) makes the rights attractive, often driving the rights’ market price up and potentially creating a “rights arbitrage” opportunity for investors who can buy the rights, exercise them, and sell the newly‑issued shares. Conversely, a modest discount may signal that the fund is trying to raise capital with minimal dilution, which could temper upside expectations.

Bottom line: The subscription price and discount are not included in the brief you provided; you’ll need to retrieve the full offering documents to obtain those numbers before forming a concrete trading thesis. Once you have them, compare the discount to historical rights offerings in the closed‑end fund space and assess the likely impact on RIV’s share price and liquidity.