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I have been on this coaster at atleast 3 different parks. It is a gravity drop/backwards coaster.
It's designed by Arrow Dynamics. One of the first models (maybe entirely the first) was installed at Six Flags Great Adventure. At the time, the total cost was about $15 million, half spent on the ride itself, the rest on the footings and infrastructure.
I've seen it at Carowinds, Darian Lake and Great Adventure. I think I saw it at King's Dominion and Six Flags Georgia, but not 100% sure.
I checked and it was at Six Flags Over Georgia. Their Shockwave was the first one of these ever opened, in 1988. Great Adventure's was originally scheduled for the same year, but they had some construction delays (the park is on really sandy soil) and theirs opened in 1989.
I remember visiting another amusement park (though I've no idea which one) which had this same coaster design, except the bottom of the first hill took you through an underwater tunnel - that was fun :)
That seems very cool. Was it a SeaWorld or something?
I just checked - it was Anaconda at King's Dominion. And when I was first looking, I thought it might be Intimidator 305 at the same park, except that's by Intamin. But boy did Intamin sure copy some of Arrow's features, lol !!