8:29pm: The signing is official, according to a team press release.
11:54am: It’ll be a minimum-salary contract for Giles in Portland, reports Michael Scotto of HoopsHype (Twitter link).
Giles, 22, was originally drafted by Portland in 2017, but was sent to the Kings in a draft night trade. He spent two seasons in Sacramento, but his progress was limited by knee injuries that have plagued him since high school. He was a free agent because Sacramento elected not to pick up his third-season option.
Giles appeared in 46 games last season, starting 17, and averaged 6.9 points and 4.1 rebounds in about 12 minutes per night. New Kings general manager Monte McNair had been hoping to keep Giles, and several teams were interested in signing him because of his potential.