Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 255

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 255
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 maintenance amount and leverage requirements for the VRDP Shares as was required prior to the special rate period. During its current special rate period, each of the Acquiring Fund and MIY pay dividends monthly based on the sum of the SIFMA Municipal Swap Index and a percentage per annum based on the long-term ratings assigned to the VRDP Shares (the “Ratings Spread”). The Ratings Spread will increase in the event the VRDP Shares are rated below Aa3/AA-by all of the rating agencies rating the VRDP Shares at the time such Ratings Spread is determined, up to a maximum of 3.40% in the event the VRDP Shares are either rated below Baa3/BBB-by at least one of the rating agencies then rating the VRDP Shares or not rated by any rating agency. As of July 31, 2025, the VRDP Shares of the Acquiring Fund and MIY were assigned long-term ratings of Aa1 and Aa2 from Moody’s, respectively, and AA and AA from Fitch, respectively. The annualized dividend rate of the MIY and the Acquiring Fund VRDP Shares for the twelve-month period ended January 31, 2025 were as follows:

| Fund                 |     | Rate  |
| MIY                  |     | 4.22% |
| Acquiring Fund (MYI) |     | 4.22% |

If a special rate period is not extended, the VRDP Shares will revert back to remarketable securities and will be remarketed and available for purchase by qualified institutional investors. There is no assurance that the VRDP Shares will be remarketed or purchased by investors after the termination of a special rate period. If the VRDP Shares are not remarketed or purchased, then a failed remarketing will occur. As described above, in the event of a failed remarketing, the dividend rate of the VRDP Shares will be reset to the maximum rate and the VRDP Shares that have 127

not been remarketed are required to be purchased by the liquidity provider and subject to redemption by the applicable Fund after six months of continuous, unsuccessful remarketing. Description of the VMTP Shares of MVT and MVF The MVT and MVF VMTP Shares may be redeemed, in whole or in part, at any time at the option of the applicable Fund. The redemption price per VMTP Share is equal to the liquidation preference per share plus any outstanding unpaid dividends. Each of MVT and MVF is required to redeem