Polercoaster backers look to raise up to $50M

ThrillCorp, an Orlando company touting a new vision for thrill rides, is going public looking to raise as much as $50 million and Nashville is one of its target markets should that funding come through.

According to a filing with the Securities and Exchange Commission, ThrillCorp is using a new type of approved offering that allows companies to sell directly to investors via the Internet, a sort of supersized version of equity campaigns like Kickstarter.

The company is looking to build its patented Polercoaster and SkySpire in three markets, including Nashville. Myrtle Beach, South Carolina, and an undetermined city are the other targets.

The attractions, which would cost between $35 million and $50 million each, differ from traditional amusement park rides in that they offer the amenities of an amusement park in a vertical orientation. The Polercoaster wraps a roller coaster around a tower (see an animation here), which is topped by a observation deck that can include a lounge or restaurant, with retail opportunities also available. Unlike traditional amusement parks, the founders of the company say their attractions are more of an a la carte experience than an all-day excursion and only occupy a half acre of land as opposed to the sprawling nature of traditional theme parks.

The Myrtle Beach project is set to be the initial site with Nashville following on. According to the SEC filing, the company plans to spend $12 to $15 million per site, provided the $50 million is raised, before seeking financing for the rest of each project.

The company has already attracted Nashville investors. Forty percent of the Class B stock is held by Mac One Realty, which shares a business address with the Green Hills office of real estate development company Oldacre McDonald.

The inventor of the Polercoaster is Bill Kitchen, who also invented the Skycoaster giant swing, one of which was located at Opryland, and the iFly indoor skydiving concept.

Read more here via the Orlando News Sentinel and here via coaster101.com.





