diff --git a/.gitignore b/.gitignore
index c18bb4d..3298aef 100644
--- a/.gitignore
+++ b/.gitignore
@@ -11,3 +11,4 @@
 /pool-3.2.1.tar.gz
 /3.1.19.tar.gz
 /pool-3.2.2.tar.gz
+/3.2.1.tar.gz
diff --git a/python-psycopg3.spec b/python-psycopg3.spec
index a1ede40..a213375 100644
--- a/python-psycopg3.spec
+++ b/python-psycopg3.spec
@@ -19,8 +19,8 @@
 %endif
 
 Name:		python-%{src_name}
-Version:	3.1.19
-Release:	2%{?dist}
+Version:	3.2.1
+Release:	1%{?dist}
 Summary:	Psycopg 3 is a modern implementation of a PostgreSQL adapter for Python
 
 License:	LGPL-3.0-only
@@ -180,6 +180,9 @@ export PSYCOPG_TEST_DSN="host=$PGHOST port=$PGPORT dbname=${PGTESTS_DATABASES##*
 %endif
 
 %changelog
+* Wed Jul 10 2024 Ondrej Sloup <osloup@redhat.com> - 3.2.1-1
+- Rebase to the latest upstream version (rhbz#2295550)
+
 * Tue Jun 11 2024 Python Maint <python-maint@redhat.com> - 3.1.19-2
 - Rebuilt for Python 3.13
 
diff --git a/sources b/sources
index f4e9044..8b914b6 100644
--- a/sources
+++ b/sources
@@ -1,2 +1,2 @@
-SHA512 (3.1.19.tar.gz) = a7d02570632a28080ffd99fa492c2f1af623e7ca55e57e8c5d4664aff4d033ae85fc21cfbb1f85a90c48e01944ed1be68e857b5cb34c0547b51ca465bac0a361
+SHA512 (3.2.1.tar.gz) = ecaeee67493ce849a2d7477d0373061ab3b329d228e3c0dd482d7ee8c7eea07c59127db2e6afc0233a78f073306d4adef915aba5f3fc6378c0335c3155350294
 SHA512 (pool-3.2.2.tar.gz) = 165188a6da33266bac6277f5dfa86cf60f3de5d5173b6c45905b469ebf2835dd1a6e0f1513b156a8337f725316bcc946e8235693d3c133191b0ca6c7683b4ded