Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 119

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 119
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 stockholders are entitled to demand the fair value of their shares from the successor entity in
connection with a reorganization except where any exceptions apply, which exceptions include if any shares of the class or series are listed on a national securities exchange, such as the common shares of MYI, on the Record Date. No exception exists
for the MYI VRDP Shares and therefore the VRDP Holders of MYI are entitled to demand the fair value of their VRDP Shares from the Acquiring Fund.

Description of Common Shares to Be Issued by the Acquiring Fund

The terms of the Acquiring Fund common shares to be issued pursuant to the Reorganizations will be substantially identical to the terms of the
Acquiring Fund common shares that are currently outstanding. The Acquiring Fund common shares, when issued, will be fully paid and non-assessable, except as provided by the Acquiring Fund’s charter, and
have no preemptive, conversion or exchange rights or rights to cumulative voting.

Please see “Information about the Common Shares
of the Funds” for additional information about the Funds’ common shares.

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Description of VRDP Shares to Be Issued by the Acquiring Fund

Assuming all of the Reorganizations are approved by the requisite shareholders, upon the Closing Date of the Reorganizations, MVT, MIY and MVF
will receive newly issued Acquiring Fund VRDP Shares, par value $0.10 per share and with a liquidation preference of $100,000 per share (plus an amount equivalent to any accumulated and unpaid dividends that have accrued on the MVT, MIY or MVF VMTP
Shares or VRDP Shares, as applicable, up to and including the day immediately preceding the Closing Date of the Reorganizations if such dividends have not been paid prior to the Closing Date), in such number equal to the issued and outstanding MVT,
MIY or MVF VMTP Shares or VRDP Shares, as applicable, immediately prior to the Closing Date, and such newly issued Acquiring Fund VRDP Shares will then be distributed to the MVT, MIY or MVF VMTP Holders or VRDP Holders, as applicable, pro rata. The
newly issued Acquiring Fund VRDP Shares are expected to be of a substantially identical series as those of the Acquiring Fund’s outstanding VRDP Shares. No fractional Acquiring Fund VRDP Shares will be issued. The terms of the Acquiring Fund
VRDP Shares to be issued in connection with the Reorganizations will be substantially