diff --git a/CHANGELOG.md b/CHANGELOG.md
index ebe1ba1164..a3ddde6eef 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,9 +1,10 @@
 # Boundary CHANGELOG
 
 Canonical reference for changes, improvements, and bugfixes for Boundary.
-
 ## Next
 
+## 0.12.1 (2023/03/13)
+
 ### Bug Fixes
 
 * cli: Fix fallback parsing of un-typed credentials for `boundary connect`.
diff --git a/internal/tests/cli/test.sh b/internal/tests/cli/test.sh
index 1dd2d37066..8d85d65ceb 100755
--- a/internal/tests/cli/test.sh
+++ b/internal/tests/cli/test.sh
@@ -32,8 +32,14 @@ function cleanup {
 
 trap cleanup EXIT
 
+max=120
+c=0
 until boundary scopes list; do
     echo 'waiting for boundary to be up'
+    ((c+=1))
+    if [[ $c -ge $max ]]; then
+        die "timeout waiting for boundary controller to get healthy"
+    fi
     sleep 1
 done
 
diff --git a/version/VERSION b/version/VERSION
index d33c3a2128..aac2dacab4 100644
--- a/version/VERSION
+++ b/version/VERSION
@@ -1 +1 @@
-0.12.0
\ No newline at end of file
+0.12.1
\ No newline at end of file
diff --git a/version/version_base.go b/version/version_base.go
index cd7bdd3090..29813dfbd4 100644
--- a/version/version_base.go
+++ b/version/version_base.go
@@ -13,7 +13,7 @@ var (
 
 	// Version is the base version
 	// Default values - set when building locally (at build time)
-	Version = "0.12.0"
+	Version = "0.12.1"
 
 	// VersionPrerelease is also set at compile time, similarly to Version.
 	VersionPrerelease string