Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 27

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 27
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 a separate class; and |

| 4. | The approval of the Issuance with respect to the MIY Reorganization by the Acquiring Fund’s common 
 shareholders and Acquiring Fund VRDP Holders voting as a single class.                             |

The MVF Reorganization is contingent upon the following approvals:

| 1. | The approval of the MVF Reorganization Agreement and the transactions contemplated therein, including the                                                                   
 termination of MVF’s registration under the 1940 Act and the dissolution of MVF under Maryland law, by MVF’s common shareholders and VMTP Holders voting as a single class; |

| 2. | The approval of the MVF Reorganization Agreement and the transactions contemplated therein, including the                                             
 termination of MVF’s registration under the 1940 Act and the dissolution of MVF under Maryland law, by MVF’s VMTP Holders voting as a separate class; |

| 3. | The approval of the MVF Reorganization Agreement and the transactions contemplated therein, including the                                                                       
 adoption of MYI Articles Supplementary in connection with the issuance of additional Acquiring Fund VRDP Shares, by Acquiring Fund VRDP Holders voting as a separate class; and |

| 4. | The approval of the Issuance with respect to the MVF Reorganization by the Acquiring Fund’s common 
 shareholders and Acquiring Fund VRDP Holders voting as a single class.                             |

Each Reorganization is not contingent upon the approval of any other Reorganization. If a Reorganization is not consummated, the Fund for which such Reorganization(s) was not consummated would continue to exist and operate on a standalone basis. If the requisite shareholder approvals for a Reorganization are not obtained or a Reorganization is not otherwise consummated, the Board of the Fund for which such Reorganization(s) were not consummated may take such actions as it deems in the best interests of the Fund, including conducting additional solicitations with respect to the Reorganization(s) or continuing to operate the Fund as a standalone Maryland corporation registered under the 1940 Act as a closed-endmanagement investment company advised by the Investment Advisor. The Investment Advisor may, in connection with the ongoing management of the Fund and its product line, recommend alternative proposals to the Board of the Fund. In order for the Reorganizations to occur, each Fund must obtain all requisite shareholder approvals with respect to the Reorganizations, as well as certain consents, confirmations and/or waivers from various third parties