Wendzel, a third baseman from Baylor, is reportedly getting a bonus in the $1.5-1.7M range. Slot there is a hair over $1.8M, so this would give the Rangers around $100-300K to allocate towards other above slot deals.
With Wendzel agreeing to a deal, there are only four players taken before the second round who are unsigned — all of them college hitters, and one of them, Josh Jung, being the Rangers top pick.
UPDATE — Heyman says the deal is for $1.6 million, meaning the Rangers have about $200,000 extra in bonus pool money to spend compared to slot. In addition, reports indicate that Jung has also agreed to a deal, and the signing of both Wendzel and Jung is expected to be announced tomorrow.