6:59pm: Gilbert tweets that Borchering signed for $1.8MM, so he got a couple hundred grand over slot.
6:30pm: The Diamondbacks have agreed to terms with first round pick Bobby Borchering, according to MLB.com's Steve Gilbert. Terms of the deal are not yet known, but D-Backs scouting director Tom Allison told reporters earlier in the week "that the club had improved its offer from $1.5 million," but did not reveal specifics. The $1.5MM offer is essentially slot money.
Borchering is a switch hitting third baseman with power out of a Florida high school.