diff --git a/lib/net/ssh/version.rb b/lib/net/ssh/version.rb
index aecaef3ad..784e9f112 100644
--- a/lib/net/ssh/version.rb
+++ b/lib/net/ssh/version.rb
@@ -49,14 +49,14 @@ def to_i
       MAJOR = 7
 
       # The minor component of this version of the Net::SSH library
-      MINOR = 2
+      MINOR = 3
 
       # The tiny component of this version of the Net::SSH library
-      TINY  = 3
+      TINY  = 0
 
       # The prerelease component of this version of the Net::SSH library
       # nil allowed
-      PRE   = nil
+      PRE   = "rc1"
 
       # The current version of the Net::SSH library as a Version instance
       CURRENT = new(*[MAJOR, MINOR, TINY, PRE].compact)