 BEIJING, March 19, 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 a convertible note purchase agreement with funds managed by PAG the Purchaser, pursuant to which Puxin will issue and sell convertible notes in an aggregate principal amount of US20 million through a private placement to the Purchaser. The transaction is subject to the satisfaction of customary closing conditions. 