The new trailer for I Know What You Did Last Summer has finally arrived, and it's packed with action, suspense, and a whole lot of nostalgia. Freddie Prinze Jr. and Jennifer Love Hewitt reprise their roles as Ray and Julie James, respectively, as they team up with a new cast of characters to take down a killer foe.

The Horror Sequel Picks Up Where the Last One Left Off

The new film takes place after the events of 1998's I Still Know What You Did Last Summer left off. This time around, Prinze Jr. and Hewitt are joined by Chase Sui Wonders, Madelyn Cline, Sarah Pidgeon, Tyriq Withers, and Jonah Hauer-King.

The trailer teases a thrilling ride, with the friends being stalked by a killer who knows their darkest secrets. As the body count rises, they turn to Prinze Jr. and Hewitt's characters for help.

"When five friends inadvertently cause a deadly car accident, they cover up their involvement and make a pact to keep it a secret rather than face the consequences," the synopsis reads. "A year later, their past comes back to haunt them, and they're forced to confront a horrifying truth: someone knows what they did last summer... and is hell-bent on revenge.

Hewitt's Julie James delivers the iconic final-girl line from the original 1997 film, and it's sure to send chills down the spines of fans everywhere.

The film is directed by Jennifer Kaytin Robinson, who wrote the screenplay with Leah McKendrick and Sam Lansky. Robinson told PEOPLE that the team approached it as "super fans," and that the film is packed with '90s nostalgia.

"There's lots of '90s in there, so get excited because the '90s are back again!" Hewitt added. "And there's lots of twists and turns. I don't think people are going to expect anything that's coming."

I Know What You Did Last Summer hits theaters on July 18.

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