RiverNorth/DoubleLine Strategic Opportunity Fund Inc | 4.375% Ser A Prfd Stock (OPP.PRA)
Prospectus excerpt: RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund”) is offering 2,200,000 shares of its 4.375% Series A Cumulative Preferred Stock, par value $0.0001 per share (the “Series A Preferred Shares”). Investors in Series A Preferred Shares will be entitled to receive, when, as and if declared by, or under authority granted by, the Fund’s Board of Directors (the “Board”), out of funds legally available therefor, cumulative cash dividends and distributions at the rate of 4.375% per annum of the $25.00 per share liquidation preference on the Series A Preferred Shares. Dividends and distributions on the Series A Preferred Shares will be payable quarterly on February 15, May 15, August 15 and November 15 in each year (or, in each case, if such date is not a business day, the next succeeding business day), commencing on November 15, 2020. The Series A Preferred Shares will rank on parity with any future preferred stock issued by the Fund, junior to any senior indebtedness, including the Fund’s borrowings pursuant to an existing credit agreement with U.S. Bank National Association, and senior to the Fund’s common stock (the “Common Shares”) with respect to dividend and distribution rights and rights upon the Fund’s liquidation.
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