diff --git a/NEWS b/NEWS
index ebe3e95a2f9..df0d1e0d019 100644
--- a/NEWS
+++ b/NEWS
@@ -20,7 +20,7 @@ Copyright (c) 2012      Sandia National Laboratories.  All rights reserved.
 Copyright (c) 2012      University of Houston. All rights reserved.
 Copyright (c) 2013      NVIDIA Corporation.  All rights reserved.
 Copyright (c) 2013-2018 Intel, Inc. All rights reserved.
-Copyright (c) 2018-2023 Amazon.com, Inc. or its affiliates.  All Rights
+Copyright (c) 2018-2024 Amazon.com, Inc. or its affiliates.  All Rights
                         reserved.
 Copyright (c) 2019-2021 Triad National Security, LLC. All rights
                         reserved.
@@ -59,9 +59,38 @@ included in the vX.Y.Z section and be denoted as:
    (** also appeared: A.B.C)  -- indicating that this item was previously
                                  included in release version vA.B.C.
 
-4.1.6 -- September, 2023
+4.1.7 -- August, 2024
 ---------------------
 
+- Fix bug in Fortran / C interface array calculation.
+- Fix potential initialization in UCX OpenSHMEM support
+- Add OpenSHMEM support for symmetric remote key handling to improve
+  scalability of OpenSHMEM interface.
+- Add MCS Locks as default implementation for OpenSHMEM locks.
+- Fix bug to properly handle ORTE Prefix of "/".
+- Fix bug in I/O interface handling of soft links on Lustre
+  filesystems.
+- Fix memory leak in UCX one-sided implementation.
+- Fix bug in rcache components that could lead to assert on macOS
+  systems.
+- Fix race condition in smcuda Shared Memory transport (used on
+  platforms with CUDA support).
+- Fix mishandling of a NULL completion context in the OFI transport.
+- Tarballs are now built with the tar-pax format.
+- Set MPI_THREAD_SERIALIZED instead of MPI_THREAD_SINGLE as supported
+  threading model when using UCX that supports
+  UCS_THREAD_MODE_SERIALIZED.
+- Improve macOS configure test to only add `-ld_classic` to the
+  Fortran bindings link line if using a version of Xcode that ships a
+  version of the "new linker" that does not support `-commons
+  use_dylibs`.  Xcode 16 betas ship a new linker that supports
+  `-commons use_dylibs`.
+- Fix issue that would prevent using Libfabric 2.x releases.
+
+
+4.1.6 -- September, 2023
+------------------------
+
 - Fix configure issue with XCode 15.
 - Update embedded PMIx to 3.2.5.  PMIx 3.2.5 addresses CVE-2023-41915.
   Note that prior versions of Open MPI (and their associated PMIx
diff --git a/VERSION b/VERSION
index cb80a0aa659..f46de1fccc5 100644
--- a/VERSION
+++ b/VERSION
@@ -48,7 +48,7 @@
 # Copyright (c) 2018-2020 IBM Corporation.  All rights reserved.
 # Copyright (c) 2018      Research Organization for Information Science
 #                         and Technology (RIST).  All rights reserved.
-# Copyright (c) 2020-2022 Amazon.com, Inc. or its affiliates.  All Rights
+# Copyright (c) 2020-2024 Amazon.com, Inc. or its affiliates.  All Rights
 #                         reserved.
 
 # This is the VERSION file for Open MPI, describing the precise
@@ -70,7 +70,7 @@ release=7
 # requirement is that it must be entirely printable ASCII characters
 # and have no white space.
 
-greek=a1
+greek=rc1
 
 # If repo_rev is empty, then the repository version number will be
 # obtained during "make dist" via the "git describe --tags --always"
@@ -128,16 +128,16 @@ date="Unreleased developer copy"
 # Version numbers are described in the Libtool current:revision:age
 # format.
 
-libmpi_so_version=70:6:30
+libmpi_so_version=70:7:30
 libmpi_cxx_so_version=70:1:30
-libmpi_mpifh_so_version=70:0:30
-libmpi_usempi_tkr_so_version=70:0:30
-libmpi_usempi_ignore_tkr_so_version=70:0:30
-libmpi_usempif08_so_version=70:0:30
-libopen_rte_so_version=70:3:30
-libopen_pal_so_version=70:3:30
+libmpi_mpifh_so_version=70:1:30
+libmpi_usempi_tkr_so_version=70:1:30
+libmpi_usempi_ignore_tkr_so_version=70:1:30
+libmpi_usempif08_so_version=70:1:30
+libopen_rte_so_version=70:4:30
+libopen_pal_so_version=70:4:30
 libmpi_java_so_version=70:0:30
-liboshmem_so_version=70:3:30
+liboshmem_so_version=70:4:31
 libompitrace_so_version=70:1:30
 
 # "Common" components install standalone libraries that are run-time