Company: MYI
Filing Date: 2025-07-15
Form Type: 425
Source: 0001193125-25-159406
Chunk: 12

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-15
Form: 425
Chunk 12
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 have on the Fund’s market discounts. Common shares of closed-endinvestment companies often trade at a discount to their NAVs, and the Fund’s Shares may also trade at a discount to their NAV, although it is possible that they may trade at or at a premium above NAV. The market price of the Fund’s Shares is determined by such factors as relative demand for and supply of such common stock in the market, the Fund’s NAV, general market and economic conditions and other factors beyond the control of the Fund. Therefore, the Fund cannot predict whether its Shares will trade at, below or above NAV. Any Shares purchased by the Fund pursuant to the Offer will be available for issuance by the Fund without further stockholder action (except as required by applicable law or the rules of the NYSE on which the Shares are listed). None of the Fund, the Board or the Investment Advisor makes any recommendation to any stockholder as to whether to tender Shares for purchase or to refrain from tendering Shares in the Offer. No person has been authorized to make any recommendation on behalf of the Fund, the Board or the Investment Advisor as to whether stockholders should tender Shares for purchase pursuant to the Offer or to make any representation or to give any information in connection with the Offer other than as contained herein. If made or given, any such recommendation, representation or information must not be relied upon as having been authorized by the Fund, the Board or the Investment Advisor. Stockholders are urged to evaluate carefully all information in the Offer, consult their own investment and tax advisers and make their own decisions whether to tender their Shares for purchase or refrain from participating in the Offer.

| 3. | Plans or Proposals of the Fund. |

On June 9, 2025, the Investment Advisor announced that the Board approved the reorganization of the Fund, BlackRock MuniVest Fund II, Inc. (“MVT”) and BlackRock MuniYield Michigan Quality Fund, Inc. (“MIY”) with and into BlackRock MuniYield Quality Fund III, Inc. (“MYI” or the “Acquiring Fund”) (the “Reorganization”). The shareholder meeting date is expected to be October 15, 2025. Completion of the Reorganization is subject to the requisite approvals by the respective common and preferred shareholders of the Fund and each of MVT, MIY and MYI, and the satisfaction of customary closing conditions. From time to time, the Investment Advisor may discuss with the Board, and the Board may consider and approve, changes