Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 39

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 39
---
 MVF each will receive newly issued Acquiring Fund VRDP Share, 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 if such dividends have not been paid prior to the Closing Date), in an amount equal to the number of 
 issued and outstanding MVT, MIY and MVF VMTP Shares or VRDP Shares, respectively, and such newly issued Acquiring Fund VRDP Shares will then be distributed to the MVT, MIY and 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 identical to the terms of the Acquiring Fund’s outstanding VRDP Shares and will rank on parity with the Acquiring Fund’s outstanding VRDP Shares as to the            
 payment of dividends and the distribution of assets upon dissolution, liquidation or winding up of the affairs of the Acquiring Fund. The newly issued Acquiring Fund VRDP Shares will be subject to the same special rate period (including the terms 
 thereof) applicable to the outstanding Acquiring Fund VRDP Shares as of the Closing Date of the Reorganizations. Such special rate period will terminate on June 17, 2026, unless extended. The Reorganizations will not result in any changes to      
 the terms of the Acquiring Fund’s VRDP Shares currently outstanding.                                                                                                                                                                                   |
|                  |     | The newly issued Acquiring Fund VRDP Shares will have terms that are similar to the terms of the outstanding MIY VRDP                                                                                                                                  
 Shares, with certain differences. While the MIY VRDP Shares have a mandatory redemption date of May 1, 2041, the newly issued Acquiring Fund VRDP Shares are expected to have a mandatory redemption date of June 1, 2041.                             |
|                  |     | None of the expenses of the Reorganizations are expected to be borne by the VMTP Holders or the VRDP Holders, as                                                                                                                                       
 applicable, of the Funds. See “