Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 322

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 322
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 value of the securities held by the applicable Fund plus any cash or other assets (including interest accrued but not yet received) minus all liabilities (including accrued expenses) and the aggregate liquidation value of the outstanding Target Fund [VRDP] 18[VMTP] 19Shares or Acquiring Fund VRDP Shares, as the case may be, shall be divided by the total number of Target Fund Common Shares or Acquiring Fund Common Shares, as the case may be, outstanding at such time.

| 12 | [Applies to MIY.] |

| 13 | [Applies to MVF and MVT.] |

| 14 | [Applies to MIY.] |

| 15 | [Applies to MVF and MVT.] |

| 16 | [Applies to MIY.] |

| 17 | [Applies to MVF and MVT.] |

| 18 | [Applies to MIY.] |

| 19 | [Applies to MVF and MVT.] |

A-10

(d) The Acquiring Fund shall issue to each Target Fund book-entry interests for the Acquiring Fund Common Shares registered in the name of such Target Fund proportionate interest in the aggregate net asset value of the Target Fund Common Shares, subject to paragraph (f) below with respect to fractional shares. (e) The Acquiring Fund shall issue to each Target Fund Holder book-entry interests for the Acquiring Fund VRDP Shares registered in the name of such Target Fund of the Target Fund [VRDP] 20[VMTP] 21Shares. The Target Fund [VRDP] 22[VMTP] 23Holders shall not receive, or be entitled to, any payment or other consideration in connection with or as a result of the Reorganization other than as provided in this Agreement. In connection with such issuance, the Acquiring Fund shall amend (or shall already have amended) the Acquiring Fund VRDP Shares’ Articles Supplementary Establishing and Fixing the Rights and Preferences of Variable Rate Demand Preferred Shares (the “ Articles Supplementary”), share certificates representing such Acquiring Fund VRDP Shares and such other agreements, instruments or documents relating to the Acquiring Fund VRDP Shares, in each case as of, or prior to, the Closing Date and only to the extent necessary or applicable to such agreement, instrument or document, to reflect the authorization and issuance of additional Acquiring Fund VRDP Shares in connection with the Reorganization. (f) No fractional shares of Acquiring Fund Common Shares