Police spokesman Sgt. Steve McCarty said the youths were identified Wednesday and the case has been sent to the Hennepin County Attorney's office for consideration of charges, the Minneapolis Star Tribune reported Thursday.
The kids are not yet teenagers, McCarty said, and are at a "real sensitive age."
The homemade bomb just missed Drew Ditlefsen April 3 as he rode his bicycle under the 15th Avenue bridge that spans the Midtown Greenway bike path.
The bottle exploded when it hit the Greenway, the newspaper said.