Patrick W. Galley, President of RiverNorth Opportunities Fund, Inc., has acquired 219,708 shares of the fund in a recent rights offering, as reported in a filing with the SEC on October 5, 2026.
This acquisition is significant as it boosts Galley's total ownership to approximately 550,403 shares, demonstrating his commitment to the fund's growth and stability.
Background
RiverNorth Opportunities Fund, Inc., identified by the Central Index Key (CIK) 0001501072, operates in the investment management sector. The company is incorporated in Maryland and has a fiscal year ending on June 30. Recent filings indicate ongoing activity related to share transactions, with the latest being the acquisition by Galley.
What the Filing Says
The SEC filing reveals that Galley acquired the shares at a price of $10.49 each on September 24, 2026. The shares were obtained through a rights offering, which allows existing shareholders to purchase additional shares, often at a discount.
Impact
This acquisition may positively influence investor sentiment towards RiverNorth Opportunities Fund, as it reflects confidence from its leadership. Other shareholders and potential investors may view Galley's increased stake as a sign of the fund's potential for future growth.
What's Next
The filing does not say what happens next.
Details of the Transaction
According to the SEC filing, the transaction was executed on September 24, 2026, under the transaction code 'J', indicating that it was a direct acquisition of shares. The shares acquired were classified as Common Shares of Beneficial Interest, which is the standard equity security type for the fund.
Ownership Structure
Following this transaction, Patrick W. Galley holds a total of approximately 550,403 shares of RiverNorth Opportunities Fund, which reflects a direct ownership nature. This acquisition positions Galley as a significant stakeholder in the fund, although he is not classified as a ten percent owner according to the filing.
Company Information
RiverNorth Opportunities Fund, Inc. is incorporated in Maryland and has a fiscal year that ends on June 30. The fund operates under the SEC file number 811-22472 and has a business address located at 360 S. Rosemary Ave, Suite 1420, West Palm Beach, FL 33401.
Signature and Filing Date
The filing was signed by Patrick W. Galley on September 25, 2026, and was officially submitted to the SEC on October 5, 2026. This timely filing is part of the regulatory requirements for reporting changes in ownership by company insiders.