RiverNorth Launches RiverNorth Flexible Municipal Income Fund II, Inc. with MacKay Municipal Managers™*

CHICAGO--(BUSINESS WIRE)--RiverNorth Capital Management, LLC (“RiverNorth”), an investment management firm specializing in opportunistic strategies, announced the launch of the RiverNorth Flexible Municipal Income Fund II, Inc. (the “Fund”), a new municipal focused closed-end fund. RiverNorth will act as the investment adviser to the Fund and MacKay Shields LLC ("MacKay Shields") will act as subadviser. This is the fourth fund co-managed by the investment firms. The Fund will use the load waived pricing structure pioneered by RiverNorth. As a result, investors will not pay any upfront expenses, which allows the Fund to be priced at its initial net asset value (NAV) of $20.00 per share. Trading on the New York Stock Exchange began on February 24, 2021 under the symbol "RFMZ.”