RSF - RiverNorth Capital and Income Fund announces transferable rights offering

• RiverNorth Capital and Income Fund ( NYSE: RSF ) on Wednesday announced a transferable rights offerin g to buy additional shares.
• The fund will issue transferable subscription rights to shareholders of record as of January 6.
• The shareholders will receive one right for each share held on the record date.
• For every three rights held, a rights holder may buy one new share of the fund.
• Shareholders who exercise their rights will not be entitled to distributions payable during January on shares issued in connection with the rights offering.
• But they will be entitled to distributions payable in February on these shares.
• The rights are expected to be listed on NYSE under the ticker 'RSF.RT'.
• Subscription price per share will be determined based on a formula equal to 90% of reported net asset value or 95% of market price per share, whichever is higher on the expiration date.
• The subscription period will expire on January 27, unless extended by the board.
• SA contributor Nick Ackerman last week said he is looking to get the fund at a minimum of 5% discount, rating the stock Hold .

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