Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 57

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 57
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 preceding the Closing Date. MVT, MIY and MVF, will receive newly issued VRDP Shares of the Acquiring Fund, par value $0.10 per share and with a liquidation preference of
$100,000 per share (plus an amount equal to any accumulated and unpaid dividends that have accrued on the MVT, MIY and MVF VMTP Shares or VRDP Shares, as applicable, up to and including the day immediately preceding the Closing Date if such
dividends have not been paid prior to Closing Date), in an amount equal to the number of issued and outstanding MVT, MIY and MVF VMTP Shares or VRDP Shares, as applicable, immediately prior to the Closing Date, and then each of MVT, MIY and MVF VMTP
will distribute such newly issued Acquiring Fund VRDP Shares to the MVT, MIY, or MVF VRDP Holders or VMTP Holders, as applicable, pro rata. The newly issued Acquiring Fund VRDP Shares are expected to be of a substantially identical series as those
of the Acquiring Fund’s outstanding VRDP Shares. No fractional Acquiring Fund VRDP Shares will be issued.

The first dividend period
for the Acquiring Fund VRDP Shares to be issued in the Reorganizations will commence on the Closing Date and end on the day immediately preceding the first dividend payment date for such VRDP Shares, which will be the first business day of the month
following the month in which the Closing Date occurs.

A Reorganization Agreement may be amended at any time prior to the Closing Date with respect to any of the terms therein upon mutual
agreement. However, after adoption of the Reorganization Agreement and approval of the Reorganization, no amendment or modification may be made which by law requires further approval by shareholders without such further approval. The obligations of
each Fund pursuant to a Reorganization Agreement are subject to various conditions, including a registration statement on Form N-14 being declared effective by the SEC, approval of the Reorganization Agreement
by the shareholders of the applicable Target Fund and the Acquiring Fund, certain third-party consents, the approval of each Issuance by the shareholders of the Acquiring Fund, receipt of an opinion of counsel as to tax matters, receipt of an
opinion of counsel as to corporate and securities matters and the continuing accuracy of various representations and warranties of the Funds being confirmed by the respective parties.

Each Reorganization is not contingent upon the approval of any other Reorganization. If