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) announced the successful completion of its transferable rights offering, which closed on January 27, 2023. A total of 1,047,000 new shares of common stock were issued, raising approximately $16.6 million in gross proceeds. The subscription price was set at $15.84 per share, determined as 90% of the net asset value. The offering saw high demand, being oversubscribed, leading to a pro-rata allocation of over-subscription shares among record date stockholders. The Fund's investment objective focuses on achieving high current income.
RiverNorth Capital and Income Fund, Inc. (NYSE: RSF) announced the preliminary results of its transferable rights offering that expired on January 27, 2023. The Offering attracted subscription requests for 1,625,445 shares, resulting in an expected issuance of 1,047,000 new shares, generating approximately $16.6 million in gross proceeds. The subscription price per share was set at $15.84, slightly lower than the initial estimate of $16.18. The Offering was oversubscribed, leading to pro-rata allocations for over-subscription requests. New shares will be record date shares for the February 2023 distribution but not for January's distributions.
RiverNorth Specialty Finance Corporation (NYSE:RSF) announced a name change to RiverNorth Capital and Income Fund effective December 7, 2022. The fund's investment strategy will remain unchanged, and its common shares will continue to trade under the symbol RSF, while preferred shares will trade under RMPL. As of October 31, 2022, RiverNorth managed approximately $4.9 billion in assets, focusing on opportunistic investments in niche markets. Investors are urged to review the fund's prospectus for details on risks and investment objectives.
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