Welcome to our dedicated page for RiverNorth Capital and Income Fund news (Ticker: RSF), a resource for investors and traders seeking the latest updates and insights on RiverNorth Capital and Income Fund stock.
RiverNorth Capital and Income Fund, Inc. (RSF) is a diversified, closed-end management investment company. With a focus on generating high current income, RSF invests primarily in credit instruments, including a broad array of securities from specialty finance and other financial companies. This strategic approach allows RSF to tap into niche markets and exploit inefficiencies, leveraging the extensive experience of its investment manager, RiverNorth, which has been in operation since 2000.
RiverNorth is renowned for its opportunistic investment strategies, targeting areas with the greatest potential for returns. The firm manages both registered and private funds, broadening their scope and enabling a diverse investment portfolio. This diversification not only helps in managing risk but also enhances the potential for consistent income generation.
Recent achievements for RSF include the successful execution of various investment strategies that have significantly boosted the fund's portfolio performance. Their partnerships with leading financial entities and ongoing projects in specialty finance sectors underscore their commitment to delivering superior returns to their investors.
Financially, RSF maintains a robust condition, supported by RiverNorth's strategic management and deep market insights. Their investment strategies are meticulously crafted to adapt to market fluctuations, ensuring that the fund remains resilient in diverse economic conditions.
In summary, RiverNorth Capital and Income Fund, Inc. stands out as a significant player in the investment management landscape, particularly known for its adept handling of credit instruments and specialty finance securities. Investors looking to stay updated on RSF's performance, events, and developments can find the latest news and updates sourced directly from the company.
RiverNorth Capital and Income Fund, Inc. (NYSE: RSF) has announced the final results of its repurchase offer for up to 5% of its outstanding common shares. The offer expired on October 2, 2024, at 5:00 P.M. Eastern Time. According to the depositary, DST Systems, Inc., a total of 2,129,843 shares were submitted for redemption, while 193,024 shares were repurchased.
Due to the oversubscription, the Fund will purchase shares from tendering shareholders on a pro-rata basis, disregarding fractional shares. The purchase price of repurchased shares is equal to the Fund's net asset value per share, calculated at the close of regular trading on the NYSE on October 2, 2024, which is $16.57 per share. DST Systems, Inc. serves as the information agent for the repurchase offer, and shareholders can direct any questions to their toll-free number at 844-569-4750.
RiverNorth Capital and Income Fund, Inc. (NYSE: RSF) has announced an update to its previously disclosed plan to redeem all 1,656,000 outstanding shares of its 5.875% Series A Term Preferred Stock (NYSE: RMPL). The redemption date has been moved to October 31, 2024, from the initially anticipated date of October 4, 2024.
The redemption price is estimated at $25.31 per share, which includes the $25.00 liquidation preference plus $0.31 in estimated accrued and unpaid dividends. Following the redemption, the Series A Preferred Stock will cease to be outstanding, and all associated rights and dividend accumulations will end.
The Fund, with approximately $113 million in total managed assets as of August 31, 2024, aims to provide a high level of current income. RiverNorth Capital Management, , the Fund's investment manager, specializes in opportunistic investment strategies and manages $5.1 billion in assets as of the same date.
RiverNorth Capital and Income Fund, Inc. (NYSE: RSF) has announced the redemption of all 1,656,000 outstanding shares of its 5.875% Series A Term Preferred Stock (NYSE: RMPL). The anticipated redemption date is October 4, 2024, with a possible extension to October 31, 2024. The redemption price is estimated at $25.20 per share, including accrued dividends. Following the redemption, the Series A Preferred Stock will be delisted from the NYSE. As of July 31, 2024, RSF had approximately $113 million in total managed assets and 3.9 million shares of common stock outstanding. RiverNorth Capital Management, , the fund's investment manager, had $5.1 billion in assets under management as of the same date.
RiverNorth Capital and Income Fund (NYSE: RSF) disclosed the final results of its repurchase offer. The offer, which aimed to buy back up to 5% of its outstanding common shares, concluded on July 3, 2024, at 5:00 P.M. Eastern Time.
A total of 2,335,546 shares were submitted for redemption, but only 202,931 shares were actually repurchased, based on the information from DST Systems, Inc., the depositary for the offer. Given that the number of tendered shares exceeded the repurchase limit, shares were bought back on a pro-rata basis.
The purchase price was set at the Fund's net asset value per share, calculated at $16.60 as of the close of trading on July 3, 2024. For further questions, shareholders can contact DST Systems, Inc. at 844-569-4750.
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