Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 40

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 40
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 | RBC Capital Markets, LLC and TD Securities (USA) LLC      |
|                           |     | Remarketing Agent to MIY VRDP Shares                                                                                                                                                                                                                 |     | BofA Securities, Inc.                                     |
|                           |     | Redemption and Paying Agent to MVT and MVF VTMP Shares; Tender and Paying Agent to MYI and MIY VRDP Shares                                                                                                                                           |     | The Bank of New York Mellon                               |
|                           |     | Independent Registered Public Accounting Firm                                                                                                                                                                                                        |     | [●]                                                       |
|                           |     | Fund Counsel                                                                                                                                                                                                                                         |     | Willkie Farr & Gallagher LLP                              |
|                           |     | Counsel to the Independent Board Members                                                                                                                                                                                                             |     | Stradley Ronon Stevens & Young, LLP                       |

9

PROPOSAL 1 – INFORMATION ABOUT THE REORGANIZATIONS

The Reorganizations seek to combine four funds that have the same investment adviser, the same Board Members, and similar investment
objectives and similar investment strategies, policies and restrictions.

Description of the Reorganizations

Each Reorganization Agreement (a form of which is attached as to this Joint Proxy Statement/Prospectus) provides for the
Acquiring Fund’s acquisition of substantially all of the assets of the applicable Target Fund and assumption of substantially all of the liabilities of the applicable Target Fund in exchange for newly issued Acquiring Fund common shares, with a
par value $0.10 per share, and newly issued Acquiring Fund VRDP Shares, with a par value of $0.10 per share and liquidation preference of $100,000 per share (plus an amount equal to any accumulated and unpaid dividends that have accrued on the
Target Fund VRDP Shares or VMTP 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). The Acquiring Fund will list the newly issued common shares on
the NYSE. The Target Fund will distribute Acquiring Fund Shares received by it pro rata to its shareholders (although cash may be paid in lieu of any fractional common shares). The newly-issued Acquiring Fund Shares will be issued in the form of
book-entry interests. Such distribution of Acquiring Fund Shares to Target Fund shareholders will be accomplished by opening new accounts on the books of the Acquiring Fund in the names of the Target Fund shareholders and transferring to those
shareholder accounts Acquiring Fund Shares.

Each newly-opened account on the books of the Acquiring Fund for