Company: MYI
Filing Date: 2025-07-16
Form Type: N-14 8C
Source: 0001193125-25-159991
Chunk: 355

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-16
Form: N-14 8C
Chunk 355
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 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 of the Reorganizations if such dividends have not been paid prior to the Closing Date), in such amount equal to the number of issued and outstanding MVT, MIY or MVF VMTP Share or VRDP Share held by the
MVT, MIY or MVF VMTP Holders or VRDP Holders, as applicable, immediately prior to the Closing Date, 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

7

fractional Acquiring Fund VRDP Shares will be issued. The terms of the Acquiring Fund VRDP Shares to be issued in connection with the Reorganizations will be substantially identical to the terms
of the Acquiring Fund’s outstanding VRDP Shares and will rank on parity with the Acquiring Fund’s outstanding VRDP Shares as to the payment of dividends and the distribution of assets upon dissolution, liquidation or winding up of the
affairs of the Acquiring Fund. The newly issued Acquiring Fund VRDP Shares term redemption date is [●]. The Reorganizations will not result in any changes to the terms of the Acquiring Fund’s VRDP Shares currently outstanding. The
Reorganizations will not result in any changes to the terms of the Acquiring Fund’s VRDP Shares currently outstanding.

A copy of a
form of the Agreement and Plan of Reorganization that will be entered into between each of MVT, MIY and MVF with the Acquiring Fund is attached as to the Joint Proxy Statement/Prospectus. Unless otherwise defined herein,
capitalized terms have the meanings given to them in the Joint Proxy Statement/Prospectus.

This Statement of Additional Information is
not a prospectus and should be read in conjunction with the Joint Proxy Statement/Prospectus dated [●] relating to the Reorganizations. A copy of the Joint Proxy Statement/Prospectus may be obtained, without charge, by writing to the Funds at
1 University Square Drive, Princeton, New Jersey 08540-6455, or by calling (800) 882-0052.

The
Acquiring Fund will provide, without charge, upon the written or oral request of any