Bikers Dream Agrees to Debt Conversion

Custom motorcycle and motorcycle parts retailer Bikers Dream Inc. said Friday that holders of $6.25 million of its corporate notes have converted the debt to 6.4 million shares of new preferred stock.

The conversion agreement, executed last month, reduces the company’s long-term debt to less than $500,000.

Santa Ana-based Bikers Dream makes its own line of custom cruiser-style motorcycles and sells used Harley-Davidson motorcycles, motorcycle parts and accessories at company-owned stores in Santa Ana, San Diego, Sacramento and Dallas.

The company’s thinly traded stock closed Friday at 90 cents a share, down 3 cents for the day in the over-the-counter market.