Bikers Dream Inc., a Santa Ana motorcycle manufacturer and retailer, said Wednesday it received a $4.5-million loan from Tandem Capital.
Bikers Dream said it will use the proceeds from the loan to repay existing debt and expand motorcycle production at its Riverside factory. Proceeds will also go toward general working capital.
Under terms of the loan, Tandem will receive 370,000 warrants to purchase Bikers Dream common shares at the current market price. Bikers shares closed Wednesday at $4.31, up 13 cents in over-the-counter trading.