Preferred Stock Channel
RiverNorth/DoubleLine Strategic Opportunity Fund Inc | 4.75% Ser B Prfd Stock (OPP.PRB)

Prospectus excerpt:  RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. (the “Fund” or “we”) is offering 2,400,000 shares of its 4.75% Series B Cumulative Preferred Stock, par value $0.0001 per share (the “Series B Preferred Shares”). Investors in Series B 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 4.75% per annum of the $25.00 per share liquidation preference on the Series B Preferred Shares. Dividends and distributions on the Series B 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 February 15, 2022. The Series B Preferred Shares will rank on parity with our issued and outstanding Series A Preferred Shares (as defined below) and all 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 (as defined below) with respect to dividend and distribution rights and rights upon the Fund’s liquidation.

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Series:B
Alternate symbology:OPP-B, OPP-PB, OPPprB
Redeemable?:Yes
Call Date:2/15/2027
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:2,400,000
Liquidation Preference:$25.00
Recent Market Price:$19.79
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-5.21 (-20.84%)
Annualized Dividend:1.18752
Recent Ex-Date:5/1/2024
Current Yield:6.00%
Original Coupon:4.75%
Pay Period:Quarterly
Pay Dates:15-Feb, 15-May, 15-Aug, 15-Nov
CDx3 Compliance Rating: Learn OPP.PRB's Rating
RiverNorth/DoubleLine Strategic Opportunity is an investment company with an investment objective to seek current income and overall total return. The Fund seeks to achieve its investment objective by allocating its Managed Assets among two principal strategies; under normal market conditions, the Fund may allocate between 10% and 35% of its Managed Assets to the Tactical Closed-End Fund Income Strategy and 65% to 90% of its Managed Assets to the Opportunistic Income Strategy.

Preferreds: OPP.PRA, OPP.PRB


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Name:  RiverNorth/DoubleLine Strategic Opportunity Fund Inc
Website:  www.rivernorth.com
Sector:  Investment Companies & Venture Capital

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