diff --git a/CHANGES b/CHANGES
index 53ce21f952..b3606cba7d 100644
--- a/CHANGES
+++ b/CHANGES
@@ -1,3 +1,11 @@
+7.2.0-dev.508 | 2025-04-11 12:59:53 +0200
+
+  * GH-4301: Fix `--with-spicy`. (Robin Sommer, Corelight)
+
+  * GH-3522: Spicy: Document lifetime semantics of Zeek analyzers created from Spicy. (Robin Sommer, Corelight)
+
+  * Bump Spicy. (Robin Sommer, Corelight)
+
 7.2.0-dev.503 | 2025-04-10 15:47:27 +0200
 
   * btest/files/x509/files: Sort analyzers in baseline (Arne Welzel, Corelight)
diff --git a/VERSION b/VERSION
index a9a033aced..37fcb4684e 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-7.2.0-dev.503
+7.2.0-dev.508
diff --git a/auxil/spicy b/auxil/spicy
index d132c06d20..b367d101cf 160000
--- a/auxil/spicy
+++ b/auxil/spicy
@@ -1 +1 @@
-Subproject commit d132c06d20245787d67d46acd1a52929f077ff3b
+Subproject commit b367d101cfaf861046b29338071fdec56cd2eb9f