Liquidation: BLACKROCK MUNICIPAL BOND FUND, INC.

Form Type: 497

Filing Date: 2025-06-13

Corporate Action: Liquidation

Type: New

Accession Number: 000119312525140734

Filing Summary: On June 5, 2025, the Board of Directors of BlackRock Municipal Bond Fund, Inc. approved a proposal to close the BlackRock Impact Municipal Fund to new and subsequent investments and subsequently liquidate the Fund. Effective at 4:00 P.M. EDT on September 12, 2025, the Fund will no longer accept orders from both new investors and existing shareholders to purchase Fund shares. The complete liquidation of the Fund's assets is scheduled for on or about September 19, 2025, the Liquidation Date, when shares held by shareholders will be redeemed at the net asset value per share. The Fund will then terminate as a series of the Corporation. Shareholders have the option to redeem their shares or exchange them into shares of another mutual fund advised by BlackRock Advisors, LLC or its affiliates until the Liquidation Date. In preparation for the liquidation, the Fund may adjust its investment objectives and strategies. Shareholders are advised to consult their tax advisers regarding any potential tax implications related to the liquidation or fund exchanges.

Form Type: 497K

Filing Date: 2025-06-13

Corporate Action: Liquidation

Type: New

Accession Number: 000119312525140740

Filing Summary: On June 5, 2025, the Board of Directors of BlackRock Municipal Bond Fund, Inc. approved a proposal to close the BlackRock Impact Municipal Fund to new and subsequent investments and to subsequently liquidate the Fund. Effective September 12, 2025, at 4:00 P.M. Eastern time, the Fund will cease to accept orders from new investors and existing shareholders for the purchase of shares. The Liquidation Date is set for September 19, 2025, by which time all of the Fund's assets will be fully liquidated. Shareholders will have their shares redeemed at net asset value on the Liquidation Date, and the Fund will be terminated as a series of the Corporation. Shareholders are allowed to redeem or exchange their shares until the Liquidation Date. In anticipation of the liquidation, the Fund may adjust its investment strategies. Shareholders are advised to consult their tax advisers regarding the implications of the liquidation and any potential exchanges.