Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 7

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 7
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 a result of the Reorganization. The Reorganizations seek to achieve certain economies of scale and other operational efficiencies by combining four funds that have similar investment   
 objectives and similar investment strategies, policies and restrictions and are managed by the same investment adviser, BlackRock Advisors, LLC (the “Investment Advisor”).                                                                   |

ii

In light of these similarities, the Reorganizations are intended to reduce fund redundancies and create a single, larger fund that may benefit from anticipated operating efficiencies and economies of scale. The Reorganizations are intended to result in the following potential benefits to common shareholders:

| (i) | lower net total expenses (excluding interest expense) per Common Share for common shareholders of each Fund                                                
 (as common shareholders of the Combined Fund following the Reorganizations) due to economies of scale resulting from the larger size of the Combined Fund; |

| (ii) | improved net earnings yield on NAV for common shareholders of MVT and MIY; |

| (iii) | improved secondary market trading of the common shares of the Combined Fund; and |

| (iv) | operating and administrative efficiencies for the Combined Fund, including the potential for the following: |

| (a) | greater investment flexibility and investment options; |

| (b) | greater diversification of portfolio investments; |

| (c) | the ability to trade portfolio securities in larger positions and more favorable transaction terms; |

| (d) | additional sources of leverage or more competitive leverage terms and more favorable transaction terms; |

| (e) | benefits from having fewer closed-end funds offering similar                                                                                                               
 products in the market, including an increased focus by investors on the remaining funds in the market (including the Combined Fund) and additional research coverage; and |

| (f) | benefits from having fewer similar funds in the same fund complex, including a simplified operational model 
 and a reduction in risk of operational, legal and financial errors.                                         |

The Board of each Fund, including Board Members thereof who are not “interested persons” (as defined in the 1940 Act), approved its Reorganization Agreement(s) and the Issuances, as applicable, concluding that the Reorganization(s) is in the best interests of its Fund and that the interests of existing common shareholders and preferred shareholders of its Fund will not be diluted with respect to NAV and liquidation preference, respectively, as a result of the Reorganization(s). As a result of the Reorganizations, however, common and preferred shareholders of each Fund may hold a reduced percentage of ownership in the larger Combined Fund than