Sevis terminated. Need To weigh in 2 options

Sevis got terminated because mistakenly took more online classes than in school had 16 hrs but only 4 were in campus unknowingly. DSO terminated Sevis and informed way after any fixing can be done. They gave 2 options. 1) Reinstatement 2) Exit and reentry.

Question.
Is the F1 visa still valid or need to get a new one. I20 was terminated last week. They are issuing new i20. And does the person need to go to home country for reenty or it can be done from Any country.

Prompt response will be appreciated