The Pittsburgh Pirates have signed No. 1 overall pick Henry Davis.

"Getting signed right away, it's important to me," Davis said. "I want to get playing. There's no time to waste, really. Making the most of it, getting right to work, I'm pretty happy about how it went."

Davis agreed to a signing bonus of $6.5 million, nearly $2 million below the slot value of $8.4 million. The deal frees Pittsburgh up to spend money on some of its other 20 picks.