diff --git a/Makefile.version.aarch64.var b/Makefile.version.aarch64.var
index a368b8ce02..cb81b52bda 100644
--- a/Makefile.version.aarch64.var
+++ b/Makefile.version.aarch64.var
@@ -1 +1 @@
-OCP_VERSION := 4.16.0-0.nightly-arm64-2024-07-17-200225
+OCP_VERSION := 4.16.0-0.nightly-arm64-2024-07-18-205501
diff --git a/assets/optional/multus/release-multus-aarch64.json b/assets/optional/multus/release-multus-aarch64.json
index 0b24372c2e..6b187a2991 100644
--- a/assets/optional/multus/release-multus-aarch64.json
+++ b/assets/optional/multus/release-multus-aarch64.json
@@ -1,6 +1,6 @@
 {
   "release": {
-    "base": "4.16.0-0.nightly-arm64-2024-07-17-200225"
+    "base": "4.16.0-0.nightly-arm64-2024-07-18-205501"
   },
   "images": {
     "multus-cni-microshift": "quay.io/openshift-release-dev/ocp-v4.0-art-dev@sha256:2163937c0603665d84995a0cbce385fc4378ed0f928ffe25601526872692cdf4",
diff --git a/assets/optional/operator-lifecycle-manager/release-olm-aarch64.json b/assets/optional/operator-lifecycle-manager/release-olm-aarch64.json
index 54db4dbc20..8223a2b946 100644
--- a/assets/optional/operator-lifecycle-manager/release-olm-aarch64.json
+++ b/assets/optional/operator-lifecycle-manager/release-olm-aarch64.json
@@ -1,6 +1,6 @@
 {
   "release": {
-    "base": "4.16.0-0.nightly-arm64-2024-07-17-200225"
+    "base": "4.16.0-0.nightly-arm64-2024-07-18-205501"
   },
   "images": {
     "operator-lifecycle-manager": "quay.io/openshift-release-dev/ocp-v4.0-art-dev@sha256:6952ece64fc9d4f3fd58044f26efa9d41bef2ac2e1fc4490684297c64073c086",
diff --git a/assets/release/release-aarch64.json b/assets/release/release-aarch64.json
index fbdc29e558..2d665aa7da 100644
--- a/assets/release/release-aarch64.json
+++ b/assets/release/release-aarch64.json
@@ -1,6 +1,6 @@
 {
   "release": {
-    "base": "4.16.0-0.nightly-arm64-2024-07-17-200225"
+    "base": "4.16.0-0.nightly-arm64-2024-07-18-205501"
   },
   "images": {
     "cli": "quay.io/openshift-release-dev/ocp-v4.0-art-dev@sha256:dfa9647cc794243295f201dae6da9112f5719ecb278d033f90b0cd5f794d5369",
diff --git a/scripts/auto-rebase/changelog.txt b/scripts/auto-rebase/changelog.txt
index e31480672c..e69de29bb2 100644
--- a/scripts/auto-rebase/changelog.txt
+++ b/scripts/auto-rebase/changelog.txt
@@ -1,3 +0,0 @@
-- operator-framework-olm embedded-component f4eac4271317504fcdeaf45fcf30bb01b1cd8bb0 to 1551101943313e3546cba7d9bc78effc79b40a8e
-  - 382f9a8f 2024-07-16T17:47:16+02:00 [CARRY] Bump github.com/containers/image/v5
-
diff --git a/scripts/auto-rebase/last_rebase.sh b/scripts/auto-rebase/last_rebase.sh
index 65576f66e6..5b245f09f0 100755
--- a/scripts/auto-rebase/last_rebase.sh
+++ b/scripts/auto-rebase/last_rebase.sh
@@ -1,2 +1,2 @@
 #!/bin/bash -x
-./scripts/auto-rebase/rebase.sh to "registry.ci.openshift.org/ocp/release:4.16.0-0.nightly-2024-07-17-183709" "registry.ci.openshift.org/ocp-arm64/release-arm64:4.16.0-0.nightly-arm64-2024-07-17-200225"
+./scripts/auto-rebase/rebase.sh to "registry.ci.openshift.org/ocp/release:4.16.0-0.nightly-2024-07-17-183709" "registry.ci.openshift.org/ocp-arm64/release-arm64:4.16.0-0.nightly-arm64-2024-07-18-205501"