Raycaster/ Eval

APEX-Agents

gpt-5.4-nano on World226_RM_06

1/2Fail
Domain
Investment Banking
Category
AI Agents for M&A Legal Due Diligence
Harness
dual

Grader rubric

Criteria verdict

  1. States Year 5 Equity Value to Sponsors is $13,445 million

  2. States IRR to Sponsors Assuming 5-Year Exit is 15.0%

Prompt excerpt

Task context

Output the year 5 Equity Value to Sponsors and IRR (with a 5 year exit). From the existing LBO model, update values to both a 20% equity rollover from existing shareholders and a 10% management option pool. Write the information straight here. Assumptions: -Existing shareholders have agreed to roll 20% of their exit proceeds into the deal as a source of funds (i.e., note that existing shareholders will have a 20% pro forma equity stake) -Impact of net option dilution calculation as follows: *Options only trigger if exit equity is greater than entry equity *If options trigger, gross proceeds to management is total exit equity multiplied by the percentage of management's option pool *Netted against management's cost to exercise, calculated as the value of entry equity multiplied by percentage of management's option pool Round monetary values to nearest whole number. Round all other values to 1 decimal point.

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Eval exists so scores are inspectable—tasks, trajectories, artifacts, and rubric verdicts anyone can open.Workspace exists so people can automate real file work with that harness, and so Raycaster never evaluates work it cannot perform.