6:04pm: Baseball America's Jim Callis reports that Cain received a $1.125MM bonus.
1:23pm: Via Twitter, Mayo reports that Cain's bonus is worth more than $1.1MM and less than $1.2MM.
12:45pm: The Pirates are set to sign eighth round pick Colton Cain for at least $1MM, according to MLB.com's Jonathan Mayo. We heard the sides were close to a deal this morning, but there was no indication that it would reach seven figures. After shedding over $7MM in salary at the deadline, the Pirates appear to be re-investing in their system. It's safe to say the commissioner's office won't be pleased to hear of a late-round bonus this high.