How to lose half a million dollars IOUs instantly.
FTFY.
It's a huge loss, however you cut it. Whenever it comes time for them to buy out, they will be able to obtain that many less bitcoins which will be worth that much less in fiat.
If his tactic is to wait for the news and market buy, he would have paid that premium anyway. Probably more if a good trader beat him to the punch, which is likely. He's the reason gox btc withdrawals will mean $900/goxcoin. He should learn from Willy.