Redwood Palms Pictures has teamed up with Todd Wagner and Mark Cuban's Truly Indie and Magnolia Pictures on the release of Mike Mayer's teen heist film Graduation.

Redwood Palms Pictures and Truly Indie will handle the theatrical release in select markets on May 2 and Magnolia Home Entertainment will handle DVD.

Riley Smith, Shannon Lucio, Chris Marquette, Chris Lowell, Adam Arkin and Huey Lewis star in the tale of four high school students who resort to extreme measures to ease a friend's financial pressures.

Scott Hanson and Redwood Palms Pictures president Scott Reid brokered the deal with Truly Indie executive director Kelly Sanders, Magnolia's head of acquisitions Tom Quinn, director of acquisitions Dori Begley and head of business affairs Jason Janego.