Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 100

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 100
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 MIY or MVF common shares and sell the resulting whole
common shares on the NYSE for the account of all holders of such fractional interests, and each such holder will be entitled to the pro rata share of the proceeds from such sale upon being issued book-entry interests for the Acquiring Fund common
shares. See “—Terms of the Reorganization Agreements—Book-Entry Interests” for a description of the procedures to be followed by MVT, MIY and MVF common shareholders to obtain their Acquiring Fund common shares (and cash in
lieu of fractional common shares, if any). Similarly, each newly-opened account on the books of the Acquiring Fund for MVT, MIY and MVF VMTP Holders or VRDP Holders, as applicable, would represent the number of Acquiring Fund VRDP Shares issued
equal to each such VMTP Holder’s or VRDP Holder’s, as applicable, holdings of MVT, MIY and MVF VMTP Shares or VRDP Shares as of immediately prior to the Closing Date.

As a result of the Reorganizations, each common shareholder of MVT, MIY and MVF will own Acquiring Fund common shares that (except for cash
payments received in lieu of fractional common shares) will have an aggregate NAV (not the market value) immediately after the Closing Date equal to the aggregate NAV (not the market value) of that shareholder’s MVT, MIY or MVF common shares,
respectively, immediately prior to the Closing Date. The aggregate NAV of each Fund immediately prior to the applicable Reorganization will reflect accrued expenses associated with such Reorganization. The NAV of MVT, MIY and MVF common shares
will not be diluted as a result of the Reorganizations. The value of each Fund’s net assets will be calculated net of the liquidation preference (including accumulated and unpaid dividends) of all outstanding VRDP Shares or VMTP Shares, as
applicable, of such Fund. The market value per share of the common shares of the Combined Fund may be less than the market value per share of the common shares of each respective Fund prior to the Reorganizations.

Assuming all of the Reorganizations are approved by the requisite shareholders, upon the Closing Date of the Reorganizations, each Target Fund
will receive newly issued Acquiring Fund VRDP Share, par value $0.10 per share and with a liquidation preference of $100,000 per share (plus an amount equal to any accumulated and unpaid dividends that have