Acclaimed attraction inventor Bill Kitchen, has been very busy. To date, Kitchen has created two of the most successful standalone attractions ever to go to market: the Skycoaster giant swing and iFly indoor skydiving venue, which have hosted millions of riders and generated more than $2 billion in revenue. As creator of one of the world’s tallest rollercoasters, Kitchen decided to found ThrillCorp Inc with the goal of developing, owning and operating Polercoaster and SkySpire attractions all across the United States.
ThrillCorp attractions are cutting edge and can be configured to include a rollercoaster, drop ride, zip line, skywalk, observation deck with a truly immersive and interactive augmented reality experience and tower-top lounge, creating a highly visible, iconic structure that can reach more than 600 feet in height. “This really changes the game,” said inventor Bill Kitchen. “We make the best park attractions more thrilling by going taller. We put them where people can use them more frequently and at a much lower cost than a theme park. We make it a casual outing as opposed to a full day’s commitment.”
Why ThrillCorp Chose Regulation A+ Crowdfunding
In an innovative twist, the company plans to fund its efforts by raising up to $50 million using a relatively new SEC rule. Regulation A+ crowdfunding is the SEC’s newest rules for selling securities to the masses, and it allows companies to sell shares directly to investors. This is the first such effort in the attractions space and, to ThrillCorp’s knowledge, currently the world’s largest Regulation A+ IPO in history.
So what exactly is this new Regulation A+ equity Crowdfunding? Growth companies can now raise up to $50 million from unaccredited investors in a mini-IPO style offering. This serves as a potential alternative to venture capital or other institutional capital. For example, imagine Uber or AirBnb, instead of going to big institutions for capital, now offering their stock directly to their drivers, riders, renters and tenants as well as the general public.
“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. The company also has a sizeable following to support this idea. Anyone searching Google or YouTube for “Polercoaster” or “world’s tallest rollercoaster” will find videos that portray the potential guest experience. They have been featured across all major media outlets, generating hundreds of millions of views. “A very tall rollercoaster is an interesting discussion topic,” says Gust. “Will you or won’t you do it? We expect our prospective investors will view this project and say: ‘We want to make it happen!’”
Connect with ThrillCorp
Written by Jordan @ CrowdfundingHeadlines