diff --git a/docs/release-notes/changelog/v5.0.x.rst b/docs/release-notes/changelog/v5.0.x.rst
index 701b2cb55f7..f01c033e953 100644
--- a/docs/release-notes/changelog/v5.0.x.rst
+++ b/docs/release-notes/changelog/v5.0.x.rst
@@ -4,6 +4,37 @@ Open MPI v5.0.x series
 This file contains all the NEWS updates for the Open MPI v5.0.x
 series, in reverse chronological order.
 
+Open MPI Version v5.0.6.rc1
+--------------------------
+:Date: 7 November 2024
+
+- Internal PMIx and PRRTe version:
+
+    - PMIx (v5.0.4). Commit hash: ``c6b895e261384016e154865dd236faaaa471d173``.
+    - PRRTE (v3.0.7). Commit hash: ``1b6e6d7e3cb8c0837eba1730cb62b62186ab042c``.
+
+    Session Management Enhancements:
+    -Finalization Control: Ensures proper finalization of classes when references to the OPAL utility layer reach zero.
+    A new smoke test has been added to validate this behavior.
+    -Test and CI Additions: A smoke test was introduced for session management, also integrated into macOS GitHub CI to ensure stability across platforms.
+    -Multiple Init/Finalize Handling: Improvements to handling session multiple initializations and finalizations, addressing issues with parameter management and session destruction.
+
+    CUDA and NVIDIA HPC Compiler Compatibility:
+    -Stream-ordered Allocations: Adjustments for handling CUDA stream-ordered allocations and assigning primary device context in `opal/cuda` (Akshay Venkatesh).
+    -nvfortran Compatibility: Configure script updated to handle NVIDIA's `nvfortran` compiler, enabling proper compilation with `-fPIC` flags for shared libraries (Gilles Gouaillardet).
+    -CUDA Memory Address Management: Improvements for handling virtual memory manager (VMM) pointers in CUDA applications to prevent runtime issues.
+
+
+    MPI Communication and Resource Management:
+    -Info Duplication: Enhanced `MPI_Info_dup` function to ensure consistent key management across duplicated info objects, supporting better memory and resource handling.
+    -OFI/Initialization Improvements: Refactored code for OFI common components to support session-based initialization models per MPI 4 standards.
+    -Resource Leak Fixes: Addressed memory leaks and reference count issues in several components to improve memory management and stability in high-demand environments.
+
+    -Detailed Locking Protocol: Modified default file-locking protocols in UFS component to ensure data consistency, especially when using data-sieving operations, which require broader locking.
+
+    -MPI_T Interface Enhancements: Modified MCA parameter settings to allow runtime tuning of collectives through the MPI_T interface, adding flexibility for dynamic rules in collective operations.
+    -Corrected various documentation typos and clarified parameter settings in several API references, improving readability and usability for end users.
+
 Open MPI version v5.0.5
 --------------------------
 :Date: 23 July 2024