Tonight’s episode of Mad Men season 7 is the mid-season finale titled “Waterloo.” Check out what we know about the final new episode of 2014!

UPDATE: Read our recap of tonight’s roller coaster episode!

The synopsis for Mad Men season 7, episode 7 reads, “Don receives a troubling letter, a risky venture entails a new future for Peggy, Roger gets an unexpected phone call and Pete butts heads with Cutler.”

Fittingly, “Waterloo” is written by Carly Wray and Matthew Weiner and directed by Weiner. The same duo wrote last year’s season 6 finale.

Watch an action-packed (by Mad Men standards) preview of the season 7 finale below. Unsurprisingly, it uses many clips from the season so far to promote the new episode:

Related: Read our recap of last week’s episode

This is the final new episode of Mad Men season 7 until next year. AMC will release the back half of season 7, which consists of seven more episodes, in spring 2015.

Why the split? By waiting until next year, AMC will be able to stretch the drama’s success one more season. It was a move the network did for the final season of Breaking Bad which worked out very well, but many critics believe that Mad Men won’t receive the same boost that Vince Gilligan’s meth drama did.

There are other benefits as well: The show will have an extra shot at receiving an Emmy, and the network can spend a full year promoting the final seven episodes of the beloved Madison Ave story.

Watch ‘Mad Men’ online

New episodes of Mad Men are released online every Monday morning. To watch online you must use the login information provided by your cable company on AMC’s website.

Return to Hypable after the episode airs tonight for our recap of what is hopefully an exciting mid-season finish that leaves us eager for the final seven episodes next year.

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