SALT LAKE CITY, UT--(Marketwired - Sep 9, 2015) - North Capital Private Securities (NCPS), a registered broker-dealer focused on the distribution of private placements, announced today that it will lead a $30M equity offering, through a syndicated crowdfunding offering, to provide additional equity financing for the New York Wheel, which closed a $456M construction financing earlier this year.

With this offering, the New York Wheel becomes the largest private financing deal to include a crowdfunding component. Towering above the northern tip of Staten Island at 630 feet, the New York Wheel will be the tallest observation wheel in the Western Hemisphere and one of New York's great landmark attractions, alongside the Statue of Liberty, Freedom Tower, and the Empire State Building. Upon completion, the New York Wheel is anticipated to draw more than four million visitors each year to the giant observation wheel.

NCPS will be leading the offering on its affiliated 99Funding marketplace platform, which launched last year as the first online platform for broker-vetted syndicated private offerings. The firm is currently finalizing its syndicate group, which is expected to include up to a dozen other platform partners. The company expects the offering to be completed by year-end.

Jim Dowd, Chief Executive Officer of NCPS, said, "The New York Wheel will be a spectacular new attraction, and we are excited be leading the equity crowdfunding offering to complement the conventional financing which is already in place. The Wheel will overlook New York harbor and another great landmark, the Statue of Liberty, which was also partially funded through a crowdfunding campaign 130 years ago. The difference is that investors in the New York Wheel will own an equity interest in the project. As a populist attraction with appeal for people from all walks of life, the New York Wheel is well-suited for our network of accredited investors."

Rich Marin, CEO of the New York Wheel, said, "The New York Wheel will attract domestic and global visitors, mature retirees and urban hipsters, residents from New York City and the greater metro area, and broad-based tour participants. Whether you arrive by private launch or on the free Staten Island Ferry, the New York Wheel will have a program and attraction experience for everyone. In the same way, we think a broad array of investors will be interested in the potential returns of this iconic project. We are at the gateway to America, the land of opportunity, and we see this investment as just that kind of opportunity. North Capital shares our vision, and their combination of expertise in crowdfunding and experience in traditional financial markets make them an ideal partner for us."

The New York Wheel offering will be structured as an exempt private offering under Regulation D, 506(c) of the Securities Act of 1933. In accordance with the rules, it will be available only to verified accredited investors. North Capital is a member of FINRA and SIPC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About North Capital Private Securities
North Capital Private Securities (NCPS) is a registered broker-dealer launched in 2011 to originate and distribute private funds and the securities of private companies. NCPS serves as the principal broker-dealer for leading online funding portals, including SeedInvest, ProHatch, MassCatalyst, Vivify, and Onevest. North Capital Investment Technology (NCIT) is the parent company of NCPS, formed in 2014 to provide technology for the financial services industry to facilitate the offering, transaction, and settlement of private placements. NCPS, through its network of affiliates, and NCIT, through its proprietary funding platforms and technology, aim to transform the private capital markets by expanding investors' access to deals and issuers' access to capital. NCIT operates 99Funding, REITless, and Accredited.AM platforms, and the TAPI SaaS solution. To learn more about NCPS and NCIT, visit: https://www.norcapsecurities.com.