A24 announced the acquisition of North American rights to Sundance favorite The Spectacular Now. The James Ponsoldt directed film, from a script by Scott Neustadter and Michael H. Weber, has become one of the darlings of the Sundance Film Festival and features breakout performances by Miles Teller and Shailene Woodley. The film also features wonderful turns by Brie Larson, Jennifer Jason Leigh, Mary Elizabeth Winstead, Kyle Chandler and Andre Royo. Film premiered on Friday night at Sundance in US Dramatic Competition. A24 will release the film this summer. Here's what A24 Films had to say about the film in a statement.

"We fell in love with this film the minute that we watched it and we know the rest of the country will embrace this timeless love story. James has directed a wonderful film that depicts young love with complete authenticity and has two young stars giving incredible performances with Miles Teller and Shailene Woodley."

Producer Andrew Lauren also chimed in with a statement.

"I am so thrilled that the film has found a home with a company that has such passion for it. It's been an amazing Sundance and we are so gratified by the incredibly warm response here."

The Spectacular Now was produced by Tom McNulty, Shawn Levy, Andrew Lauren, and Michelle Krumm.

The deal was negotiated with A24 by UTA Independent Film Group on behalf of the filmmakers. James Ponsoldt is also represented by UTA.