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RiverNorth Capital and Income Fund, Inc. Non-Transferable Rights Offering - Seite 2

The subscription price per share of common stock will be determined based upon a formula equal to 90% of the reported net asset value or 95% of the market price per share of common stock, whichever is higher on the Expiration Date (as defined below). Market price per share of common stock will be determined based on the average of the last reported sales price of a share of common stock on the NYSE for the five trading days preceding (and not including) the Expiration Date. The subscription period will expire on April 22, 2024, unless extended by the Board (the “Expiration Date”).

Record Date Stockholders who exercise their Rights will not be entitled to distributions payable during March or April 2024 on shares issued in connection with the rights offering, but they will be entitled to distributions payable during May 2024 on these shares.

As a reminder, the Fund is an interval fund that makes periodic repurchase offers under Rule 23c-3 under the Investment Company Act of 1940 of at least 5% of outstanding shares quarterly. Shares issued in this rights offering will not be eligible for the Fund’s Q2 repurchase offer which ends on April 3, 2024, but will be eligible for repurchase during the Q3 offer which is scheduled to commence on June 3, 2024 and end on July 3, 2024.

The rights offering will be made pursuant to the Fund’s currently effective shelf registration statement on file with the Securities and Exchange Commission (“SEC”) and only by means of the prospectus supplement and accompanying prospectus. The Company expects to mail subscription certificates evidencing the subscription rights and a copy of the prospectus supplement and accompanying prospectus for the rights offering shortly following the Record Date. The securities described in this release may not be sold nor may offers to purchase be accepted prior to the time the prospectus supplement and accompanying prospectus are filed with the SEC.

This press release shall not constitute an offer to sell or constitute a solicitation of an offer to buy.

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RiverNorth Capital and Income Fund, Inc.

The investment objective of the Fund is to seek a high level of current income. Fund had approximately $56.9 million of net assets and 3.4 million shares of common stock outstanding as of February 29, 2024.

The Fund is a closed-end fund and does not continuously issue stock for sale as open-end mutual funds do. The Fund now trades in the secondary market. Investors wishing to buy or sell stock need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market value.