diff --git a/.github/workflows/release-please.yml b/.github/workflows/release-please.yml
index 251ff4d..caa7aa4 100644
--- a/.github/workflows/release-please.yml
+++ b/.github/workflows/release-please.yml
@@ -21,18 +21,18 @@ jobs:
           token: ${{ secrets.GITHUB_TOKEN }}
 
       - uses: actions/checkout@v4
-        if: ${{ steps.release.outputs.releases_created }}
+        if: ${{ steps.release.outputs.prs_created }}
 
       - name: Update launchdarkly-server-sdk rockspec
         uses: ./.github/actions/update-versions
-        if: ${{ steps.release-metadata.outcome == 'success' }}
+        if: ${{ steps.release.outputs.prs_created }}
         with:
           package: launchdarkly-server-sdk
           branch: ${{ fromJSON(steps.release.outputs.pr).headBranchName }}
 
       - name: Update launchdarkly-server-sdk-redis rockspec
         uses: ./.github/actions/update-versions
-        if: ${{ steps.release-metadata.outcome == 'success' }}
+        if: ${{ steps.release.outputs.prs_created }}
         with:
           package: launchdarkly-server-sdk-redis
           branch: ${{ fromJSON(steps.release.outputs.pr).headBranchName }}
diff --git a/launchdarkly-server-sdk-2.0.0-0.rockspec b/launchdarkly-server-sdk-2.0.0-0.rockspec
index c39a7f6..17a8264 100644
--- a/launchdarkly-server-sdk-2.0.0-0.rockspec
+++ b/launchdarkly-server-sdk-2.0.0-0.rockspec
@@ -2,7 +2,7 @@ package = "launchdarkly-server-sdk"
 
 rockspec_format = "3.0"
 
-version = "2.0.0-0" -- {x-release-please-version}
+version = "2.0.0-0"
 
 description = {
    summary = "LaunchDarkly Lua Server-Side SDK",
@@ -20,7 +20,7 @@ description = {
 
 source = {
    url = "git+https://github.com/launchdarkly/lua-server-sdk.git",
-   tag = "v2.0.0" -- {x-release-please-version}
+   tag = "v2.0.0"
 }
 
 dependencies = {
diff --git a/launchdarkly-server-sdk-redis-2.0.0-0.rockspec b/launchdarkly-server-sdk-redis-2.0.0-0.rockspec
index ff42e73..95e2dd0 100644
--- a/launchdarkly-server-sdk-redis-2.0.0-0.rockspec
+++ b/launchdarkly-server-sdk-redis-2.0.0-0.rockspec
@@ -2,7 +2,7 @@ package = "launchdarkly-server-sdk-redis"
 
 rockspec_format = "3.0"
 
-version = "2.0.0-0" -- {x-release-please-version}
+version = "2.0.0-0"
 
 description = {
    summary = "LaunchDarkly Lua Server-Side SDK Redis Source",
@@ -19,7 +19,7 @@ description = {
 
 source = {
    url = "git+https://github.com/launchdarkly/lua-server-sdk.git",
-   tag = "v2.0.0" -- {x-release-please-version}
+   tag = "v2.0.0"
 }
 
 dependencies = {
diff --git a/release-please-config.json b/release-please-config.json
index a7efb60..306a8b1 100644
--- a/release-please-config.json
+++ b/release-please-config.json
@@ -6,7 +6,8 @@
       "versioning": "default",
       "extra-files": [
         "launchdarkly-server-sdk.c",
-        ".github/actions/ci/action.yml"
+        ".github/actions/ci/action.yml",
+        "README.md"
       ]
     }
   }
diff --git a/scripts/update-versions.sh b/scripts/update-versions.sh
index e296ea0..380824a 100755
--- a/scripts/update-versions.sh
+++ b/scripts/update-versions.sh
@@ -2,7 +2,11 @@
 
 set -e
 
-# This script renames a rockspec file containing one semantic version to another.
+# This script has two responsibilities:
+# 1. Update the package version in the rockspec file. This is necessary because release-please can't update
+# a file that changes names.
+# 2. Update the actual filename of the rockspec file.
+
 # This script doesn't update the rockspec version - the part after the package version, but before the .rockspec
 # suffix. That should be done manually if the rockspec itself has changed but not the package contents.
 #
@@ -68,6 +72,16 @@ for file in "$input_rockspec"-*.rockspec; do
     new_file_name="$input_rockspec-$input_version-$rockspec_revision.rockspec"
     git mv "$file" "$new_file_name"
     echo "Renamed $file to $new_file_name"
+
+    # Update the 'version' field with the new semver.
+    sed -i.bak "s/version = \".*\"/version = \"$input_version-$rockspec_revision\"/" "$new_file_name"
+    echo "Bumped version from $semver to $input_version"
+
+    # Update the 'tag' field to contain the git tag, which we're hardcoding as 'v' + the version number. This
+    # relies on the assumption that our release please config specifies a leading v.
+    sed -i.bak "s/tag = \".*\"/tag = \"v$input_version\"/" "$new_file_name"
+    echo "Updated source.tag to v$input_version"
+
     rm -f "$new_file_name.bak"
 
     if [ "$(git status --porcelain | wc -l)" -gt 0 ]; then
@@ -80,7 +94,7 @@ for file in "$input_rockspec"-*.rockspec; do
       git add "$new_file_name"
       git add README.md
       if [ $autocommit ]; then
-        git commit -m "chore: rename $input_rockspec version from $semver to $input_version"
+        git commit -m "chore: bump $input_rockspec version from $semver to $input_version"
         git push
       else
         echo "Changes staged, but not committed. Please commit manually."