Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 350

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 350
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“Funds,” and each, a “Fund”), whereby the Acquiring Fund will acquire substantially all of the assets and assume substantially all of the liabilities of MVT, MIY and MVF in exchange solely for newly issued shares of the
Acquiring Fund’s common stock, par value $0.10 per share and Variable Rate Demand Preferred Shares, par value $0.10 per share and with a liquidation preference of $100,000 per share (“VRDP Shares” and the holders thereof,
“VRDP Holders”) (plus an amount equivalent to any accumulated and unpaid dividends that have accrued on the MVT and MVF VMTP Shares and the MIY VRDP Shares up to and including the day immediately preceding the Closing Date of the
Reorganizations if such dividends have not been paid prior to such Closing Date), in the form of book-entry interests. The Acquiring Fund will list the newly issued common shares on the New York Stock Exchange (“NYSE”). MVT, MIY and MVF
will then distribute the newly issued Acquiring Fund common shares and Acquiring Fund VRDP Shares to MVT, MIY and MVF common shareholders (although cash may be distributed in lieu of fractional common shares) and VRDP Holders or VMTP Holders, as
applicable, of MVT, MIY and MVF, respectively, terminate their registration under the Investment Company Act of 1940, as amended (the “1940 Act”), and liquidate, dissolve and terminate in accordance with their respective charters and
Maryland law. The Acquiring Fund will continue to operate after the Reorganizations as a registered, diversified, closed-end management investment company with the investment objective, investment strategies,
investment policies and restrictions described in the Joint Proxy Statement/Prospectus. Each of MVT, MIY and MVF may be referred to herein individually as a “Target Fund” or collectively as the “Target Funds.”

The aggregate net asset value (“NAV”) (not the market value) of the Acquiring Fund common shares received by the common
shareholders of MVT, MIY and MVF in the Reorganizations will equal the aggregate NAV (not the market value) of the MVT, MIY and MVF common shares held by such common shareholders immediately prior to the Closing Date (although MVT, MIY and MVF
common shareholders may receive cash for their fractional common shares). The aggregate NAV of each Fund immediately prior to the applicable Reorganization will reflect accrued expenses associated with such