Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 41

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 41
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 the former common
shareholders of MVT, MIY and MVF will represent the respective pro rata number of Acquiring Fund common shares (rounded down, in the case of fractional common shares held other than in an automatic dividend reinvestment plan account (“Plan
Account”), to the next largest number of whole common shares) due such common shareholder. No fractional Acquiring Fund common shares will be issued (except for common shares held in a Plan Account). In the event there are fractional common
shares in an account other than a Plan Account, the Acquiring Fund’s transfer agent will aggregate all such fractional MVT, MIY or MVF common shares and sell the resulting whole common shares on the NYSE for the account of all holders of such
fractional interests, and each such holder will be entitled to the pro rata share of the proceeds from such sale upon being issued book-entry interests for the Acquiring Fund common shares. See “—Terms of the Reorganization
Agreements—Book-Entry Interests” for a description of the procedures to be followed by MVT, MIY and MVF common shareholders to obtain their Acquiring Fund common shares (and cash in lieu of fractional common shares, if any). Similarly,
each newly-opened account on the books of the Acquiring Fund for MVT, MIY and MVF VMTP Holders or VRDP Holders, as applicable, would represent the number of Acquiring Fund VRDP Shares issued equal to each such VMTP Holder’s or VRDP
Holder’s, as applicable, holdings of MVT, MIY and MVF VMTP Shares or VRDP Shares as of immediately prior to the Closing Date.

As a
result of the Reorganizations, each common shareholder of MVT, MIY and MVF will own Acquiring Fund common shares that (except for cash payments received in lieu of fractional common shares) will have an aggregate NAV (not the market value)
immediately after the Closing Date equal to the aggregate NAV (not the market value) of that shareholder’s MVT, MIY or MVF common shares, respectively, immediately prior to the Closing Date. The aggregate NAV of each Fund immediately prior to
the applicable Reorganization will reflect accrued expenses associated with such Reorganization. The NAV of MVT, MIY and MVF common shares will not be diluted as a result of the Reorganizations. The value of each Fund’s net assets will be
calculated net of the liquidation preference (including accumulated and unpaid dividends) of all