OrangeHook, Inc. (OTCPK:ORHK) announced that it has entered into a private placement with returning lender Midwest Bank (Detroit Lakes, MN) for a promissory note for gross proceeds of $150,000 on August 24, 2018. The note will carry an annual interest rate of 6.25%. The note will mature on August 24, 2021. The interest will be calculated on a 360-day year basis resulting in an effective interest rate of 6.33% per year. Monthly payments of $4,586.70 are required through the maturity date. The note is secured by a existing security agreement with Midwest Bank, dated February 15, 2018.