{"id":689491,"date":"2022-09-27T18:33:04","date_gmt":"2022-09-27T22:33:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-doubleline-strategic-opportunity-fund-inc-announces-final-results-of-rights-offering-2\/"},"modified":"2022-09-27T18:33:04","modified_gmt":"2022-09-27T22:33:04","slug":"rivernorth-doubleline-strategic-opportunity-fund-inc-announces-final-results-of-rights-offering-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-doubleline-strategic-opportunity-fund-inc-announces-final-results-of-rights-offering-2\/","title":{"rendered":"RiverNorth\/DoubleLine Strategic Opportunity Fund, Inc. Announces Final Results of Rights Offering"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>RiverNorth\/DoubleLine Strategic Opportunity Fund, Inc. Announces Final Results of Rights Offering<\/b><\/p>\n<p>WEST PALM BEACH, Fla.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nRiverNorth\/DoubleLine Strategic Opportunity Fund, Inc. (the \u201cFund\u201d) (NYSE: OPP) today announced the final results of its transferable rights offering (the \u201cOffering\u201d). 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 \u201cExpiration Date\u201d).\n<\/p>\n<p>\nThe subscription price of $9.70 per share in the Offering was established on the Expiration Date based on a formula equal to 92.5% of the reported net asset value. Gross proceeds received by the Fund, before any expenses of the Offering, are expected to total approximately $34.0 million.\n<\/p>\n<p>\nThis press release shall not constitute an offer to sell or constitute a solicitation of an offer to buy.\n<\/p>\n<p><b>RiverNorth\/DoubleLine Strategic Opportunity Fund, Inc.<\/b><\/p>\n<p>\nThe investment objective of the Fund is current income and overall total return. The Fund had approximately $346 million of total managed assets<sup>1<\/sup> and 19.5 million shares of common stock outstanding as of August 31, 2022.\n<\/p>\n<p>\nThe Fund is a closed-end fund and does not continuously issue stock for sale as open-end mutual funds do. The Fund now trades in the secondary market. Investors wishing to buy or sell stock need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market value.\n<\/p>\n<p>\nRisk is inherent in all investing. Investing in any investment company security involves risk, including the risk that you may receive little or no return on your investment or even that you may lose part or all of your investment. Therefore, before investing in the Common Shares, you should consider the risks as well as the other information in the prospectus.\n<\/p>\n<p>\nPast performance is no guarantee of future results.\n<\/p>\n<p><b><i>Investors should consider the Fund&#8217;s investment objective, risks, charges and expenses carefully <\/i><\/b><b><i>before investing. The prospectus should be read carefully before investing. For more information, <\/i><\/b><b><i>please read the prospectus, call your financial professional or call 844.569.4750.<\/i><\/b><\/p>\n<p><b>RiverNorth Capital Management, LLC<\/b><\/p>\n<p>\nRiverNorth is an investment management firm founded in 2000 that specializes in opportunistic strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is the manager to multiple registered and private funds.\n<\/p>\n<p><i><sup>1<\/sup><\/i><i>Managed Assets includes assets attributable to leverage and investments in affiliated funds.<br \/>\n<br \/><\/i>Marketing services provided by ALPS Distributors Inc. ALPS and RiverNorth are not affiliated.\n<\/p>\n<p>\nRiverNorth\u00ae is a registered trademark of RiverNorth Capital Management, LLC.<br \/>\n<br \/>ALPS Distributors, Inc. is the FINRA Member Firm.<br \/>\n<br \/>\u00a92000-2022 RiverNorth Capital Management, LLC. All rights reserved.<br \/>\n<br \/>OPP000123\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20220927006126r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20220927006126\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20220927006126\/en\/<\/a><\/span><\/p>\n<p><b>Investor Contact<br \/>\n<\/b><br \/>Chris Lakumb, CFA, CAIA<br \/>\n<br \/>312.445.2336<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:clakumb@rivernorth.com\">clakumb@rivernorth.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Florida United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Banking Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20220927006126\/en\/558770\/3\/RiverNorth.black.on.white.no.margin.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>RiverNorth\/DoubleLine Strategic Opportunity Fund, Inc. Announces Final Results of Rights Offering WEST PALM BEACH, Fla.&#8211;(BUSINESS WIRE)&#8211; RiverNorth\/DoubleLine Strategic Opportunity Fund, Inc. (the \u201cFund\u201d) (NYSE: OPP) today announced the final results of its transferable rights offering (the \u201cOffering\u201d). 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 \u201cExpiration Date\u201d). The subscription price of $9.70 per share in the Offering was established on the Expiration Date based on a formula equal to 92.5% of the reported net asset value. Gross proceeds received by the Fund, before any expenses of the Offering, are expected to total approximately $34.0 million. This press release shall not constitute an &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-doubleline-strategic-opportunity-fund-inc-announces-final-results-of-rights-offering-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;RiverNorth\/DoubleLine Strategic Opportunity Fund, Inc. Announces Final Results of Rights Offering&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-689491","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RiverNorth\/DoubleLine Strategic Opportunity Fund, Inc. Announces Final Results of Rights Offering - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-doubleline-strategic-opportunity-fund-inc-announces-final-results-of-rights-offering-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RiverNorth\/DoubleLine Strategic Opportunity Fund, Inc. Announces Final Results of Rights Offering - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"RiverNorth\/DoubleLine Strategic Opportunity Fund, Inc. Announces Final Results of Rights Offering WEST PALM BEACH, Fla.&#8211;(BUSINESS WIRE)&#8211; RiverNorth\/DoubleLine Strategic Opportunity Fund, Inc. (the \u201cFund\u201d) (NYSE: OPP) today announced the final results of its transferable rights offering (the \u201cOffering\u201d). 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 \u201cExpiration Date\u201d). The subscription price of $9.70 per share in the Offering was established on the Expiration Date based on a formula equal to 92.5% of the reported net asset value. Gross proceeds received by the Fund, before any expenses of the Offering, are expected to total approximately $34.0 million. This press release shall not constitute an &hellip; Continue reading &quot;RiverNorth\/DoubleLine Strategic Opportunity Fund, Inc. 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