Update

RiverNorth Capital and Income Fund, Inc. Non-Transferable Rights Offering

RiverNorth Capital and Income Fund, Inc. (NYSE: RSF) (the “Fund”), an exchange-listed interval fund, has filed the prospectus supplement governing the terms of its previously announced non-transferable rights offering. You can find a copy of the prospectus supplement here: XBRL Viewer (sec.gov).

The proceeds from the offering will be deployed according to the Fund’s investment objective into the portfolio of unique, hard to access private credit assets including small business whole loans originated by Square Loans and debt securities issued by business development companies and closed end funds. Exposure to these less correlated, “off the run” asset classes has been a significant driver of the Fund’s attractive long-term net asset value performance.

In this offering, the Fund will issue non-transferable rights (the “Rights”) to its stockholders of record as of April 1, 2024 (the “Record Date” and such stockholders, “Record Date Stockholders”) allowing the holder to subscribe for new shares of common stock of the Fund (the “Primary Subscription”). Record Date Stockholders will receive one Right for each share of common stock held on the Record Date. For every three Rights held, a holder of Rights may buy one new share of common stock of the Fund. The number of Rights to be issued to a Record Date Stockholder will be rounded up to the nearest number of Rights evenly divisible by three. Fractional shares will not be issued upon the exercise of the Rights. Accordingly, new Common Shares may be purchased only pursuant to the exercise of Rights in integral multiples of three.

Record Date stockholders who fully exercise their Rights will be entitled to subscribe for additional shares of common stock (“Over-Subscription Shares”), subject to the limitations set forth in the prospectus supplement. The Over-Subscription Shares will be allocated pro rata to stockholders who over-subscribe based on the number of Rights originally issued to them. The Fund may increase the number of shares of common stock subject to subscription by up to 100% of the shares available pursuant to the Primary Subscription. The Rights are non-transferable and, therefore, may not be purchased or sold. The shares of common stock issued pursuant to the rights offering will be listed on the New York Stock Exchange (“NYSE”) under the ticker: RSF.