It would be very distasteful if, in June, they try to justify a potentially low share issue price by pointing to the share price drop following the news of the offering. Common sense dictates that they should use the average price from the period before the news, especially since the market is unaware of the details of the offering.
But who knows. Admittedly, trust in this management is pretty much at zero following their recent communication. No doubt the inner circle knows exactly what’s coming and is busy divvying up the spoils, while the rest are left guessing blindly. Which, in itself, shouldn’t be possible if the stock market were functioning correctly. 
Regarding that short interest—if I recall correctly, it peaked (15%+) back when the share price was at its lowest (12-20kr). Greed drives people to overdo it in both directions.