WEST PALM BEACH, Fla., September 04, 2024--(BUSINESS WIRE)--The Board of Directors of the RiverNorth Capital and Income Fund, Inc. (the "Fund") (NYSE: RSF) has authorized the redemption of all 1,656,000 outstanding shares of its 5.875% Series A Term Preferred Stock (the "Series A Preferred Stock") (NYSE: RMPL).

The anticipated redemption date is October 4, 2024 (the "Redemption Date"), but the redemption may be effected on a subsequent date no later than the mandatory redemption date of October 31, 2024, due to changes in market conditions or otherwise as determined by the Fund. The Series A Preferred Stock redemption price is estimated to be $25.20 per share of Series A Preferred Stock, which is equal to the liquidation preference of $25.00 per share plus $0.20 per share representing estimated accrued and unpaid dividends to the Redemption Date. Once redeemed, the Series A Preferred Stock will no longer be deemed outstanding, dividends will cease to accumulate and all rights of the holders of the Series A Preferred Stock with respect to the Series A Preferred Stock will cease. The Fund has filed a notice of its intention to redeem the Series A Preferred Stock with the Securities and Exchange Commission.

In conjunction with the planned redemption, the Series A Preferred Stock will be suspended from the New York Stock Exchange ("NYSE") before market open on the anticipated redemption date of October 4, 2024.

All shares of the Series A Preferred Stock are held through the Depository Trust Company ("DTC") and shares will be redeemed in accordance with the procedures of DTC. Payment to DTC for the Series A Preferred Stock will be made by DST Systems, Inc. as redemption agent. Any questions may be directed to the redemption agent toll-free at 844-569-4750.

RiverNorth Capital and Income Fund, Inc.

The Fund is a closed-end fund whose investment objective is to seek a high level of current income. As of July 31, 2024, RSF had approximately $113 million of total managed assets¹ and 3.9 million shares of common stock outstanding.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective.

RiverNorth Capital Management, LLC

RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.1 billion¹ in assets under management as of July 31, 2024, RiverNorth specializes in opportunistic investment strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is an institutional investment manager to registered funds, private funds, and separately managed accounts.