Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 367

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 367
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 Subject to the requirements of the 1940 Act, the
Investment Advisor, its Affiliates and the Entities intend to engage in such activities and may receive compensation from third parties for their services. None of the Investment Advisor, its Affiliates or the Entities are under any obligation to
share any investment opportunity, idea or strategy with the Acquiring Fund. As a result, the Investment Advisor, its Affiliates and the Entities may compete with the Acquiring Fund for appropriate investment opportunities. The results of the
Acquiring Fund’s investment activities, therefore, may differ from those of an Affiliate, and Entity or another account managed by an Affiliate or an Entity and it is possible that the Acquiring Fund could sustain losses during periods in
which one or more Affiliates, Entities and other accounts achieve profits on their trading for proprietary or other accounts. The Investment Advisor has adopted policies and procedures designed to address potential conflicts of interest.

Defensive Investing Risk.For defensive purposes, the Acquiring Fund may allocate assets into cash or short-term fixed income
securities. In doing so, the Acquiring Fund may succeed in avoiding losses but may otherwise fail to achieve its investment objective. Further, the value of short-term fixed income securities may be affected by changing interest rates and by changes
in credit ratings of the investments. If the Acquiring Fund holds cash uninvested it will be subject to the credit risk of the depository institution holding the cash.

Decision-Making Authority Risk.Investors have no authority to make decisions or to exercise business discretion on behalf of the
Acquiring Fund, except as set forth in the Acquiring Fund’s governing documents. The authority for all such decisions is generally delegated to the Board, which in turn, has delegated the day-to-day management of the Acquiring Fund’s investment activities to the Investment Advisor, subject to oversight by the Board.

Management Risk.The Acquiring Fund is subject to management risk because it is an actively managed investment portfolio. The
Investment Advisor and the individual portfolio managers will apply investment techniques and risk analyses in making investment decisions for the Acquiring Fund, but there can be no guarantee that these will produce the desired results. The
Acquiring Fund may be subject to a relatively high level of management risk because the Acquiring Fund may invest in derivative instruments, which may be highly specialized instruments that require investment techniques and risk analyses different
from those associated with equities and bonds.

Valuation Risk.The Acquiring Fund is subject to valuation risk,
which is the risk that one or more