Puxin Limited (NEW) Announces $69 Million Private Placement of Convertible Notes
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Puxin Announces US$69 Million Private Placement of Convertible Notes
February 26, 2021 7:00 AM ESTBEIJING, Feb. 26, 2021 /PRNewswire/ -- Puxin Limited (NYSE: NEW) ("Puxin" or the "Company"), a successful consolidator of the after-school education industry in China, today announced that it has entered into convertible note purchase agreements with a group of institutional investors (the "Purchasers"), pursuant to which Puxin will issue and sell convertible notes in an aggregate principal amount of US$69 million through a private placement to the Purchasers. The transaction is subject to the satisfaction of customary closing conditions.
The convertible notes will mature in five years, bearing... More
