diff --git a/CHANGELOG.md b/CHANGELOG.md
index fdf0bb1fb..bd9aafa13 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,11 @@
 # Changelog
 
+## 4.12.0-rc.0 (2024-07-02)
+
+### Features
+
+#### Remove unused rewrite arithmetic logic, deprecate recalculation_table (#1787)
+
 ## 4.11.0 (2024-06-05)
 
 ### Features
diff --git a/pyproject.toml b/pyproject.toml
index 30128c832..23bb76919 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "pyquil"
-version = "4.11.0"
+version = "4.12.0-rc.0"
 description = "A Python library for creating Quantum Instruction Language (Quil) programs."
 authors = ["Rigetti Computing <softapps@rigetti.com>"]
 readme = "README.md"