American Caresource Holdings, Inc. (OTCPK:GNOW) announced a private placement of secured promissory notes for gross proceeds of $1,638,888.50 on June 3, 2016. The transaction included participation from returning investors, John Pappajohn, Mark Oman, and Matt Kinley, directors of the company. The promissory note carries fixed interest rate of 6% per annum, payable on the first day of each calendar month after the date of issuance and all principal and accrued repayable 18 months from the date of issuance. The notes carry maturity of 18 months.