THRILLCORP SKYSPIRE TOWER TO ANCHOR $1.2 BILLION REDEVELOPMENT OF 70 ACRE DOWNTOWN SAN DIEGO BAYFRONT SITE
ThrillCorp to partner in the seventy-acre conversion of prime waterfront real estate featuring the company's 480 foot tall SkySpire observation tower.
ORLANDO, FLORIDA - July 20, 2016 - - The San Diego Port Authority Commission has selected a $1.2 billion project proposal anchored by a 480 foot tall SkySpire observation tower from ThrillCorp, Inc. to transform 70 acres of prime downtown San Diego waterfront. ThrillCorp Inc., a developer of uniquely iconic vertical entertainment experiences, is a partner in a consortium called 1HWY1 led by Protea Waterfront Development as the Managing Member. The winning proposal was one of eleven that the Port received for this unique 70 acre waterfront site. The Port and Protea Waterfront Development are expected to complete final review of the proposal by October which will begin the development process immediately thereafter. “I believe this site is unquestionably one of the best waterfront sites in the United States that when completed will redefine experiential urban, mixed-use development and make San Diego a truly world class city” said Yehudi “Gaf” Gaffen, the spokesman for Protea Waterfront Development.
“The 6-1 vote in favor was a decisive win.” said Michael Kitchen, Chief Development Officer for ThrillCorp. “Our team did a tremendous job assembling and presenting a complete and compelling vision that includes a curated collection of unique land uses in a well-thought out design. The Port of San Diego set a high bar of expectation and we are very grateful to have been deemed to meet it.” In addition to the SkySpire, the $1.2 billion dollar redevelopment proposal includes a uniquely interactive aquarium, Bayfront beaches, hotels, marinas, retail, dining and other entertainment in a district that makes the most of its waterfront location.
One of the most visible elements of the project is the ThrillCorp SkySpire, a 480 foot tall contemporary tower that is sure to become the symbol most associated with San Diego. Designed by AVRP/Skyport Studios, the SkySpire will be an iconic addition to the San Diego waterfront. "We are proud to add our tower to the already stunning San Diego waterfront skyline," said Bill Kitchen, Chairman of ThrillCorp and inventor of the spire product. The SkySpire features gondolas that spiral around the tower as they transport guests to a top level interactive observation experience to be designed in partnership with the Smithsonian Media. "Guests can disembark at the top to enjoy the beauty of San Diego and engage some of the latest technology to learn about the area and its history," continued Kitchen. A second upper level includes a restaurant that affords patrons stunning views while dining. "This will become an incredibly popular destination with breathtaking views," said Mr. Kitchen.
For ThrillCorp, the timing is spectacular. The company has just commenced offering shares to the public under a Crowdfund Regulation A+ offering. “We have a great set of patented products, a terrific team and a solid business plan,” said David Gust, CEO of ThrillCorp. “Selection of our team and our product in San Diego adds tremendous value potential to the Company. It places our observation product in an absolute trophy location. We are on a mission to create the most unique entertainment experiences in the world and this another step along that path.”
For more information on the San Diego project, please refer to www.seaportsandiegoca.com
For additional information about ThrillCorp, please refer to www.thrillcorp.com
THRILLCORP INC. LAUNCHES EQUITY OFFERING TO BRING AN ENTIRELY NEW CATEGORY OF ROLLERCOASTERS TO THE HEART OF MAJOR U.S. MARKETS
Veteran thrill ride developer and inventor of Skycoaster, iFly and world’s tallest rollercoaster introduces new attractions, invites public to come along for the ride by investing
ORLANDO, FLORIDA – JUNE 28, 2016 – ThrillCorp, Inc. (ThrillCorp), the newly-formed company of acclaimed attraction inventor Bill Kitchen and creator of the world’s tallest rollercoaster, today announces it is going public and inviting thrill-loving investors to “own the thrill” by investing in its newest creations, Polercoaster vertical thrill parks and SkySpire observation attractions. Kitchen previously 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.
Kitchen’s new company, ThrillCorp, intends to repeat that success by developing, owning and operating Polercoaster and SkySpire attractions across the United States. In an innovative twist, the company plans to fund its efforts by raising up to $50 million via a new SEC rule, called Regulation A+, that allows companies to sell shares directly to investors. This is the first such effort in the attractions space and, to the company’s knowledge, currently the world’s largest Regulation A+ IPO in history.
Instead of requiring a sprawling plot of land, the Polercoaster takes the most exciting attractions of a theme park and builds them vertically, requiring only a half-acre. The Polercoaster 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 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. Guests can come out for a few hours, ride a few world-class rides and shop, dine, or just stroll. It is a new category of experience.”
SkySpire also leverages vertical building. As opposed to a rollercoaster, it creates an observation experience that is a fresh new take on the Ferris wheel. It carries guests, via spiraling gondolas, to the top of a tall tower where they can disembark on an observation level that can incorporate a lounge and/or restaurant. “In a location with a beautiful view, there is no better experience than the SkySpire,” says Kitchen. “You get unobstructed 360-degree views as you ascend and then you have a self-guided tour of the surroundings in the observation level.” The SkySpire serves as an elegant counterpoint to the raucous Polercoaster. “We think of it as a kinetic sculpture,” adds Kitchen.
ThrillCorp believes the sky is the limit for its new attractions. Its crowdfunded offering is intended to provide the capital to develop one or more of its thrilling projects. “We believe there are 30 to 50 viable markets in the U.S. alone,” said Michael Kitchen, the company’s Chief Development Officer. “Our goal is to quickly get one of these up and running and then have a pipeline of eight to 10 additional markets waiting in the queue.” The company can develop towers in a stand-alone tower configuration, as part of larger self-contained entertainment centers, or as larger-scale entertainment malls with multiple other attractions, dining and retail offerings. It has also begun design of all-weather solutions to extend operating seasons. “We can develop on our own or partner with local developers, municipalities and national developers. We have models that work for all situations,” said Kitchen.
The company chose Regulation A+ as a funding vehicle to engage an excited base of investors as advocates and promoters of its business. Citing the success of non-equity fundraising efforts generated through sites such as Kickstarter, ThrillCorp decided on this course of finance when Congress enacted new SEC rules that allowed sale of up to $50 million in shares directly to investors via the Internet. “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 has a sizeable following. 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 these videos and say: ‘We want to make it happen!’”
While the tall attraction is its own best marketing vehicle, the company plans to build where its targeted audiences already congregate. This strategy, enabled by the tower’s small footprint, will lower the cost of customer acquisition and increase the likelihood of steady traffic to the attractions. In many instances the attraction may generate significant new traffic, and raise real estate values for nearby properties. “Our variety of offerings in a very small footprint allow us to generate very attractive revenue per square foot compared to alternative land uses.” ThrillCorp sees its product fitting into a large number of domestic markets. “As opposed to a theme park, we have the advantages of shared infrastructure, easy customer access and the opportunity for casual guest usage. Compare our investment needs to that of a traditional theme park and then do it on a per attendee basis. We look very good.” Said Gust, “I love Disney and Six Flags and Cedar Fair, but to create another of those parks requires hundreds of millions to billions of dollars and there are few potential locations suitable to host them. In contrast, we offer several of the most popular and repeatable rides for a fraction of that cost in a way that we think customers will use more often. We can put them in most major markets. We like our model.”
About ThrillCorp, Inc.
ThrillCorp, Inc. is a corporation specializing in the development, ownership and operation of patent-protected Polercoaster and SkySpire attractions. ThrillCorp’s founder, Bill Kitchen has created some of the most financially successful and best selling attractions in the world. Kitchen’s inventions have sold tens of millions of tickets, and created over $2 billion in revenue for their owners. ThrillCorp is headquartered in Orlando, Florida.
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