Company: MYI
Filing Date: 2025-07-16
Form Type: N-14 8C
Source: 0001193125-25-159991
Chunk: 17

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-16
Form: N-14 8C
Chunk 17
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DP Shares outstanding. The Board of each Fund has authorized the redemption of up to 67% of the Fund’s currently outstanding VRDP or VMTP Shares, as applicable, on one or more occasions between April 1, 2025 and October 1, 2025. Any such redemption is not related to a Reorganization or contingent on shareholder approval of a Reorganization. The timing and amount of any redemption of a Fund’s currently outstanding VRDP Shares or VMTP Shares would depend on a number of factors, including, among others, the desired mix of leverage from preferred shares versus TOBs, yield levels and borrowing costs. In connection with the Reorganizations, the Acquiring Fund expects to issue [777] additional VRDP Shares to MVT (for issuance to MVT VMTP Holders), [2,319] additional VRDP Shares to MIY (for issuance to MIY VRDP Holders), and [1,536] additional VRDP Shares to MVF (for issuance to MVF VMTP Holders). Following the completion of the Reorganizations, the Combined Fund is expected to have [8,196] VRDP Shares outstanding. Assuming all of the Reorganizations are approved by the requisite shareholders, upon the Closing Date of the Reorganizations, MVT, MIY and MVF VMTP each will receivenewly issued Acquiring Fund VRDP Share, par value $0.10 per share and with a liquidation preference of $100,000 per share (plus an amount equivalent to any accumulated and unpaid dividends that have accrued on the MVT, MIY or 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 the Closing Date) in such number equivalent to the respective number VMTP Shares or VRDP Shares, in exchange for all of the assets of each MVT, MIY and MVF, respectively, and such newly issued Acquiring Fund VRDP Shares received by each of MVT, MIY and MVF will be distributed to the respective VMTP Holders or VRDP Holders, as applicable, of each of MVT, MIY, and MVF, as applicable, in such Holders pro rata immediately prior to the Closing Date. 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