Update: RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. Transferable Rights Offering
Businesswire·2025-11-10 21:49

Core Points - The RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. has authorized a rights offering for its common stockholders to purchase additional shares of common stock [1][17] - The offering's expiration date is set for November 18, 2025, with financial intermediaries potentially having earlier cut-off times for instructions [2][6] - The estimated subscription price is $8.04, based on 90% of the Fund's last reported net asset value (NAV) of $8.93 [3][6] - Record Date Stockholders will receive one transferable subscription right for each share held, allowing them to purchase one new share for every three rights held [4][5] - The rights are tradable on the NYSE under the ticker OPP RTWI and OPP RT [4] - The Fund's total net assets were approximately $212.3 million with 23.8 million shares outstanding as of September 30, 2025 [9] Offering Details - The subscription price will be determined based on a formula equal to 90% of the reported NAV or 95% of the market price, whichever is higher on the expiration date [6] - The rights offering will be conducted under the Fund's effective shelf registration statement with the SEC [7] - Subscription certificates and a prospectus supplement will be mailed to stockholders following the Record Date [8]