12:15pm: Canaan and the Rockets have reached an agreement on a one-year, non-guaranteed contract, tweets Michael Scotto of Basketball Insiders.

12:07pm: The lone opening on the Rockets’ 15-man NBA roster is expected to be filled soon, according to Chris Haynes of ESPN.com, who reports (via Twitter) that free agent point guard Isaiah Canaan intends to sign with Houston.

Canaan, 26, began his NBA career in Houston, joining the Rockets as the 34th overall pick in the 2013 NBA draft. However, he was traded to the Sixers at the deadline in 2015, then joined the Bulls for the 2016/17 campaign after spending a season and a half in Philadelphia.