RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. - OPP STOCK NEWS

RiverNorth/DoubleLine Strategic Opportunity Fund has announced a public offering of 2,400,000 shares of 4.75% Series B Cumulative Preferred Stock at $25 per share, leading to approximately $58.1 million in net proceeds post-expenses. The shares will potentially trade under 'OPPPRB' on the NYSE within 30 days after issuance. Proceeds will be utilized to repay borrowings and for general working capital. The offering is set to close on November 22, 2021, subject to standard conditions.

RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) announced plans to offer shares of its Series B Cumulative Preferred Stock in an underwritten public offering. The completion depends on market conditions. If approved, the Series B Preferred Stock will trade on the NYSE under the ticker symbol 'OPPPRB' within 30 days. Proceeds will be used to repay borrowings and for general working capital. The Fund had $321 million in total managed assets and 16.2 million shares outstanding as of September 30, 2021.

RiverNorth/DoubleLine Strategic Opportunity Fund and RiverNorth Specialty Finance Corporation have declared preferred dividends for Q4 2021. The RiverNorth/DoubleLine Fund will pay $0.27344 per share on its 4.375% Series A Cumulative Preferred Stock (OPPPRA), while RiverNorth Specialty Finance will pay $0.36719 per share on its 5.875% Series A Term Preferred Stock (RMPL). The ex-dividend date is October 29, 2021, with the record date being November 1, 2021, and the payable date on November 15, 2021. Investors should consult tax advisors regarding distribution sources.

RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) announced the conclusion of its transferable rights offering, which closed on October 1, 2021. The offering generated approximately $42.3 million by issuing 2,926,441 new shares at a subscription price of $14.48 per share. This price was determined based on 97.5% of the reported net asset value or 95% of the market price on the expiration date, whichever was higher. The fund had total managed assets of approximately $321 million as of August 31, 2021.

RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) announced the preliminary results of its rights offering, which ended on October 1, 2021. The Fund expects to issue 2,926,444 new shares, generating approximately $42.3 million before expenses. The final subscription price is set at $14.48 per share, lower than the earlier estimate of $15.45, reflecting 97.5% of the net asset value (NAV) of $14.85. The Fund had about $321 million in total managed assets as of August 31, 2021, and the rights offering does not affect past monthly distributions paid in August or September.

On August 27, 2021, the RiverNorth/DoubleLine Strategic Opportunity Fund (NYSE: OPP) held a shareholder meeting where a proposal to convert from a closed-end to an open-end investment company was rejected. Shareholders opted to maintain the fund's current structure, a decision lauded by CEO Patrick Galley, who emphasized the benefits for income and overall returns. As of July 31, 2021, RiverNorth manages $5.5 billion in assets, focusing on niche market investments. The fund operates as a closed-end entity, trading on the secondary market, and carries inherent investment risks.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation have announced preferred dividends for Q3 2021. The Strategic Opportunity Fund declared a cash dividend of $0.27344 per share for its 4.375% Series A Cumulative Preferred Stock (NYSE: OPPPRA), while RiverNorth Specialty Finance Corporation set a dividend of $0.36719 for its 5.875% Series A Term Preferred Stock (NYSE: RMPL). The ex date for both dividends is July 30, 2021, with the record date on August 2, 2021, and payment on August 16, 2021.

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Specialty Finance Corporation have declared preferred dividends for Q2 2021. The former announced a cash dividend of $0.27344 per share for its 4.375% Series A Cumulative Preferred Stock (NYSE: OPPPRA). The latter declared $0.36719 per share for its 5.875% Series A Term Preferred Stock (NYSE: RMPL). Important dividend dates include Ex Date: April 30, 2021, Record Date: May 3, 2021, and Payable Date: May 17, 2021. RiverNorth manages approximately $5.1 billion in assets.