Tuesday, June 28, 2016

Looking to Own Part of the World's Tallest Coaster?

I believe this is a first of its kind since I've been writing about the amusement industry - fans (well the entire general public for that matter) can get in on the 'ground floor' of ThrillCorp, buying shares in what the company hopes will one day be a major force in the world of amusement rides.

ThrillCorp, the patent owner of the Polercoasters and SkySpire designs, has decided to go public and solicit funding for their future operations under the SEC's "Regulation A+," which allows them to raise up to $50 million directly from individual investors with no middle man.  People can invest as little as $200, getting 20 shares of the company. 

Looking at the plan from 30,000 feet, this is a modern version of crowdfunding, only approved by the SEC and investors really do own a part of the company, via stock.  “We think our products have broad appeal and we like the idea of a group of shareholder supporters working with us from the ground up,” said David Gust, CEO of ThrillCorp.  Also like crowdfunding sites, investors will receive benefits like all-year passes and such to the planned attractions, depending on investment level.

© ThrillCorp
ThrillCorp will use the funds to initially develop up to three sites featuring either a "vertical thrill park" Polercoaster, or SkySpire observation towers.  The company believes their research shows between 30 and 50 markets in the U.S. alone that would support one of their towers.  Both towers feature possible restaurants and observation decks at the top of the 600+ foot structures, with the Polercoaster featuring a drop ride, roller coaster and sky-walk, and the SkySpire features a relaxing gondola ride.

The company's published offering with the SEC gives a bit more detail on their plans.  Depending on how much is raised they want to pursue a Polercoaster in Myrtle Beach, South Carolina first, followed by one in Nashville, Tennessee, and SkySpire in an undetermined location.  If they do not raise enough money to do all of them, then the Myrtle Beach project is listed as the one that will be focused on first.  If they do not raise at least $5 million it sounds like investors will receive their money back, but if they cross that mark they will start at least one development.

Obviously this is a very high risk sort of investment, and to be clear I'm not writing this to in any way promote the investment plan - I just find it to be a very interesting move that's worth writing about!  ThrillCorp has set up a nice website with more detail, and anyone thinking of investing should really read the details of their SEC filing.