Company: MYI
Filing Date: 2025-07-16
Form Type: N-14 8C
Source: 0001193125-25-159991
Chunk: 5

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-16
Form: N-14 8C
Chunk 5
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 Fund II, Inc. (“MVT”), BlackRock MuniYield Michigan Quality Fund, Inc. (“MIY”) and BlackRock
MuniVest Fund, Inc. (“MVF”) (collectively, the “Target Funds”) and BlackRock MuniYield Quality Fund III, Inc. (“MYI” or the “Acquiring Fund” and collectively with MVT, MIY and MVF, the “Funds,” and
each, a “Fund”) and the proposals to be voted on. It is expected that the effective dates (collectively, the “Closing Date”) of the Reorganizations will be sometime during the fourth quarter of 2025, but they may be at a
different time as described in the Joint Proxy Statement/Prospectus.

The enclosed Joint Proxy Statement/Prospectus is being sent only to
the common shareholders of MVT, MIY, MVF and the Acquiring Fund. Each of the Acquiring Fund and MIY are separately soliciting the votes of its holders of Variable Rate Demand Preferred Shares (“VRDP Shares” and the holders thereof,
“VRDP Holders,”) and each of MVT and MVF are separately soliciting the votes of its holders of Variable Rate Muni Term Preferred Shares (“VMTP Shares” and the holders thereof, “VMTP Holders” and such VMTP Shares
together with VRPD Shares and the common shares of each Fund, the “Shares”), as applicable, through a separate proxy statement.

Q: Why is a shareholder meeting being held?

A: Common Shareholders of BlackRock MuniVest Fund II, Inc. (NYSE Ticker: MVT): You and the VMTP Holders of MVT are being asked to vote as a single class on a proposal to approve an Agreement and Plan of Reorganization between MVTMVT and the Acquiring Fund (the “MVT Reorganization Agreement”) and the
transactions contemplated therein, including (i) the acquisition by the Acquiring Fund of substantially all of MVT’s assets and the assumption by the Acquiring Fund of substantially all of MVT’s liabilities in exchange solely for
newly issued common shares and VRDP Shares of the Acquiring Fund, which will be distributed to the common shareholders (although cash may be distributed in lieu of fractional common shares) and VMTP Holders, respectively, of MVT, and which shall
constitute the sole consideration to be distributed or paid to the common shareholders (although cash may be