Special Opportunities Fund (SPE) Form 4 SPECIAL OPPORTUNITIES FUND / GERALD HELLERMAN ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

HELLERMAN GERALD

(Last) (First) (Middle)

5431 NW 21ST AVE.

(Street)

BOCA RATON FL 33496

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SPECIAL OPPORTUNITIES FUND, INC. [ SPE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2020

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								35,684	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
3.50% Convertible Preferred Stock Series B	$0	12/15/2020		D			350	(1)	(3)	Common Stock	651	$25.56	400	D
3.50% Convertible Preferred Stock Series B	$0	12/15/2020		D			400	(2)	(3)	Common Stock	744	$25.5304	0	D
3.50% Convertible Preferred Stock Series B	$0							(4)	(4)	Common Stock	(4)		0	I	See Footnote(4)

Explanation of Responses:

1. The shares of Preferred Stock are convertible into common stock immediately upon issuance at the current conversion rate equivalent to a conversion price of $13.74 per share of common stock (which is a ratio of 1.8601 shares of common stock for each share of Preferred Stock held), subject to adjustment.

2. The shares of Preferred Stock are convertible into common stock immediately upon issuance at the current conversion rate equivalent to a conversion price of $13.73 per share of common stock (which is a ratio of 1.8601 shares of common stock for each share of Preferred Stock held), subject to adjustment.

3. If not converted prior, the shares of Preferred Stock will be redeemed by the Issuer on August 19, 2021.

4. Upon the death of Reporting Person's spouse, the shares previously reported by Reporting Person as owned by his spouse are no longer owned by a member of Reporting Person's Immediate Family living with Reporting Person. Reporting Person disclaims beneficial ownership of all such shares.

	/s/ Stephanie Darling, Power of Attorney for Gerald Hellerman	12/17/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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