RiverNorth Specialty Finance Corporation Announces Name Change to RiverNorth Capital and Income Fund

Rhea-AI Summary

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.

Positive

• Fund retains its investment strategy, ensuring continuity for investors.
• RiverNorth's significant asset management of $4.9 billion positions it well in the market.

Negative

• Investments in Alternative Credit are risky, potentially leading to principal loss.
• Unrated investments similar to 'junk' bonds may lead to speculative risks.

WEST PALM BEACH, Fla.--(BUSINESS WIRE)-- RiverNorth Specialty Finance Corporation (the “Fund”) today announced that effective on or about December 7, 2022 the Fund’s name will be changed to RiverNorth Capital and Income Fund. The Fund’s investment strategy and objective will remain the same. Further, the Fund’s common shares will continue to trade under its existing New York Stock Exchange (“NYSE”) symbol “RSF”. The Fund’s preferred shares will continue to trade under the NYSE symbol “RMPL”, and CUSIP numbers for RSF and RMPL will not change.

About RiverNorth

RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With approximately $4.9 billion¹ in assets under management as of October 31, 2022, RiverNorth specializes in opportunistic investment strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is the investment manager to registered funds, private funds and separately managed accounts.

See the Prospectus for a more detailed description of Fund risks. Investing involves risk.

Principal loss is possible.

The profitability of specialty finance and other financial companies is largely dependent upon the availability and cost of capital funds and may fluctuate significantly in response to changes in interest rates, as well as changes in general economic conditions. If the borrower of Alternative Credit (as defined below) in which the Fund invests is unable to make its payments on a loan, the Fund may be greatly limited in its ability to recover any outstanding principal and interest under such loan, as (among other reasons) the Fund may not have direct recourse against the borrower or may otherwise be limited in its ability to directly enforce its rights under the loan, whether through the borrower or the platform through which such loan was originated, the loan may be unsecured or under collateralized, and/or it may be impracticable to commence a legal proceeding against the defaulting borrower. Substantially all of the Alternative Credit in which the Fund invests will not be guaranteed or insured by a third party. In addition, the Alternative Credit Instruments in which the Fund may invest will not be backed by any governmental authority. Prospective borrowers supply a variety of information regarding the purpose of the loan, income, occupation and employment status (as applicable) to the lending platforms. As a general matter, platforms do not verify the majority of this information, which may be incomplete, inaccurate, false or misleading. Prospective borrowers may misrepresent any of the information they provide to the platforms, including their intentions for the use of the loan proceeds. Alternative Credit Instruments are generally not rated by the nationally recognized statistical rating organizations (“NRSROs”). Such unrated instruments, however, are considered to be comparable in quality to securities falling into any of the ratings categories used by such NRSROs to classify "junk" bonds (i.e., below investment grade securities). Accordingly, the Fund’s unrated Alternative Credit Instrument investments constitute highly risky and speculative investments similar to investments in “junk” bonds, notwithstanding that the Fund is not permitted to invest in loans that are of subprime quality at the time of investment. Although the Fund is not permitted to invest in loans that are of subprime quality at the time of investment, an investment in the Fund’s Shares should be considered speculative and involving a high degree of risk, including the risk of loss of investment. There can be no assurance that payments due on underlying loans, including Alternative Credit, will be made.

Diversification does not ensure a profit or a guarantee against loss.

The Fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The Fund’s prospectus and most recent periodic reports contain this and other important information about the investment company and may be obtained by visiting rivernorth.com/literature or by calling 844.569.4750. Read the Prospectus carefully before investing.

¹ Firm AUM reflects Managed Assets, which includes assets attributable to leverage.

Chris Lakumb is a registered representative of ALPS Distributors, Inc. RiverNorth Capital Management; LLC is not affiliated with ALPS Distributors, Inc. or DST Systems, Inc.

Marketing services provided by ALPS Distributors Inc. ALPS and RiverNorth are not affiliated.

Not FDIC Insured | May Lose Value | No Bank Guarantee
RiverNorth® is a registered trademark of RiverNorth Capital Management, LLC.
©2000-2022 RiverNorth Capital Management, LLC. All rights reserved.

RVN001626

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Investor Contact

Chris Lakumb, CFA, CAIA,

312.445.2336

clakumb@rivernorth.com

Source: RiverNorth Capital Management, LLC

FAQ

What is the new name of RiverNorth Specialty Finance Corporation?

The new name is RiverNorth Capital and Income Fund, effective December 7, 2022.

Will the stock symbols RSF and RMPL change after the name change?

No, the common shares will continue to trade under RSF and preferred shares under RMPL.

What are the risks associated with investing in RiverNorth Capital and Income Fund?

Investments in the fund involve risks, including potential loss of principal due to speculative investments.

How much in assets does RiverNorth Capital Management manage as of October 31, 2022?

RiverNorth Capital Management manages approximately $4.9 billion in assets.