Company: MYI
Filing Date: 2025-07-15
Form Type: 425
Source: 0001193125-25-159406
Chunk: 31

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-15
Form: 425
Chunk 31
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 to which the Fund accepted for repurchase 1,470,146 Shares of the Fund at a price equal to 98% of the Fund’s NAV per Share as of the close of regular trading on the NYSE on May 21, 2025 (the business day immediately following the expiration date of the tender offer), in accordance with the terms of such offer as described in the Fund’s Issuer Tender Offer Statement on Schedule TO, as filed with the Commission on April 17, 2025. 10

On January 20, 2025, the Fund and the Investment Advisor entered into a standstill agreement (the “Saba Standstill Agreement”) with Saba Capital Management, L.P. (“Saba”). During the effective period of the Saba Standstill Agreement, Saba, the Fund and the Investment Advisor agreed to be bound by the terms of such agreement, which include an agreement by Saba to (1) abide by certain customary standstill covenants and (2) vote its Shares, if any, in accordance with the recommendation of the Fund’s Board on all matters submitted to stockholders. The Saba Standstill Agreement will remain in effect until the day following completion of the Fund’s 2027 annual meeting of stockholders or August 31, 2027, whichever is earlier, unless the agreement is terminated earlier by the parties. A copy of the Saba Standstill Agreement is included as an exhibit to the Fund’s Schedule TO for this Offer. Except for the foregoing or as otherwise set forth in this Offer to Purchase, none of the Fund, the Investment Advisor or, to the best of the Fund’s knowledge, any of the Fund’s directors or executive officers or any person controlling the Fund or the Investment Advisor, is a party to any agreement, arrangement, or understanding, whether or not legally enforceable, with any other person with respect to any securities of the Fund, including, but not limited to, any agreement, arrangement, understanding or relationship concerning the transfer or the voting of any such securities, joint ventures, loan or option arrangements, puts or calls, guaranties of loans, guaranties against loss or the giving or withholding of proxies, consents or authorizations. Except as set forth in this Offer to Purchase, there is no present or proposed material agreement, arrangement, understanding or relationship with respect to the Offer between the Fund and any of its executive officers, directors, controlling persons or subsidiaries. The Fund has been advised that none of its Board of Directors,