RiverNorth Specialty Finance Corporation Announces Name Change to RiverNorth Capital and Income Fund
28 Novembre 2022 - 10:30PM
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
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221128005634/en/
Investor Contact Chris Lakumb, CFA, CAIA, 312.445.2336
clakumb@rivernorth.com
RiverNorth Capital and I... (NYSE:RSF)
Graphique Historique de l'Action
De Août 2024 à Sept 2024
RiverNorth Capital and I... (NYSE:RSF)
Graphique Historique de l'Action
De Sept 2023 à Sept 2024