Company: MYI
Filing Date: 2025-07-16
Form Type: N-14 8C
Source: 0001193125-25-159991
Chunk: 354

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-16
Form: N-14 8C
Chunk 354
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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 Reorganization. The value of each Fund’s net
assets will be calculated net of the liquidation preference (including accumulated and unpaid dividends) of all outstanding VMTP Shares or VRDP Shares, as applicable, of such Fund.

On the Closing Date of the Reorganizations, MVT, MIY and MVF VMTP as applicable, will receive newly issued Acquiring Fund VRDP Shares, par
value $0.10 per share and with a