Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 40

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 40
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as a separate class on a proposal to approve the MIY 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.

ii

Proposal 1(I): The VRDP Holders of the Acquiring Fund are being asked to vote as a
separate class on a proposal to approve 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.

Proposal 2: The Issuance of Additional Acquiring Fund Common Shares

Proposal 2(A): The common shareholders and VRDP Holders of the Acquiring Fund are being asked to vote as a single class on a proposal
to approve the issuance of additional common shares of the Acquiring Fund in connection with the MVT Reorganization Agreement (the “MVT Issuance”).

Proposal 2(B): The common shareholders and VRDP Holders of the Acquiring Fund are being asked to vote as a single class on a proposal
to approve the issuance of additional common shares of the Acquiring Fund in connection with the MIY Reorganization Agreement (the “MIY Issuance”).

Proposal 2(C): The common shareholders and VRDP Holders of the Acquiring Fund are being asked to vote as a single class on a proposal
to approve the issuance of additional common shares of the Acquiring Fund in connection with the MVF Reorganization Agreement (the “MVF Issuance” and collectively with the MVT Issuance and the MIY Issuance, the “Issuances”).

It is expected that the effective dates (collectively, the “Closing Date”) of the Reorganizations will be sometime during the
fourth quarter of 2025, but they may be at a different time as described herein. The term “Combined Fund” refers to the Acquiring Fund as the surviving Fund after the consummation of each of the Reorganizations.

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.

The Board of each Fund has
determined that including these proposals applicable to common shareholders of the Funds in one Joint Proxy Statement/Prospectus will reduce costs and is in the best interest of each Fund’s shareholders.

Distribution to the shareholders of