Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 317

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 317
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amount equal to all accumulated but unpaid dividends (whether or not earned or declared) (the “MVT AMPS Series C Shares”), 1,600 shares of Auction Market Preferred Stock, Series D, par value $0.05, with a liquidation preference of
$25,000, plus an amount equal to all accumulated but unpaid dividends (whether or not earned or declared) (the “MVT AMPS Series D Shares”), 1,400 shares of Series W-7 Retired Variable Rate
Muni-Term Preferred Shares, par value $0.10, with a liquidation preference of $100,000 (the “MVT Retired Preferred Shares”), and 777 shares of Series W-7 Variable Rate Muni-Term Preferred Shares,
par value $0.10, with a liquidation preference of $100,000 (the “Target Fund VMTP Shares” and together with the Target Fund Common Shares, the MVT AMPS Non-Series Shares, the MVT AMPS Series A
Shares, MVT AMPS Series B Shares, MVT AMPS Series C Shares, MVT AMPS Series D Shares, and the MVT Retired Preferred Shares, collectively the “Target Fund Shares”)]. Each issued and outstanding Target Fund Share is duly and validly issued
and is fully paid and nonassessable, except as provided by the Target Fund’s charter, and has the voting rights provided by the Target Fund’s charter, By-laws and applicable law. The Target Fund
has no issued and outstanding preferred shares other than [2,319 Target Fund VRDP] [[1,536] [777] Target Fund VMTP] Shares; no outstanding options, warrants or other rights to subscribe for or purchase any Target Fund Shares; and no outstanding
securities convertible into Target Fund Shares. All of the issued and outstanding Target Fund Common Shares will, at the time of the Closing, be held by the persons and in the amounts set forth in the records of the Target Fund’s transfer
agent as provided in Section 7(d).

(p) All of the issued and outstanding Target Fund Shares were offered for sale
and sold in conformity with all applicable federal and state securities laws.

(q) The Target Fund will not sell or
otherwise dispose of any of the Acquiring Fund Shares to be received in the Reorganization, except in distribution to the Target Fund Shareholders as provided in Section 3 of this Agreement.

(r) The books and records of the Target Fund made available to the