Yeah, no choice. All minority stakeholders have to sell regardless of whether they want to or not. It is part of the deal when we were given the first options and what people signed up for when they bought more. 

>So your friend thought he would have to sell his options at the 100 price point but you think they'd be selling at the 80 price point?

Nope, they will be getting the 20. Essentially, they are saying the options are worth the shareprice, but they are paying overvalue, so those who have options will get the over part only.