That is exactly why they pitch the issue at a premium (for now)...

That is exactly why they pitch the issue at a premium (for now) so that small s/hers don't take up their rights and they take up the undersubscription, thereby by stealth they wrestle control of the company over time at what is effectively next to a zero premium to market, a fantastic deal for them as they are obviously assessing the true value to be well north of the current market cap, and small shareholders get largely left on the sidelines if they don't take up their allotment.