As you say ........Capital RaiseThe Company is currently...

As you say ........
Capital Raise
The Company is currently evaluating capital raise options for execution in May 2023.
Pure Loan Facility
As of 31 March 2023, the cash balance held by Kleos was 1.4 million Euros. Under the financial covenants of the facility agreement entered into with Pure Asset Management (“Pure”) in August 2022, the Group is to maintain a cash balance greater than 1.25 million Euros. In early April, the Company’s cash balance dropped below the required 1.25 million Euros, resulting in a covenant breach. Because Pure has agreed to accept firm commitments from investors as a cure for the breach, Management believes the abovementioned capital raise will resolve this covenant breach.

However they may also want to get something moving with the "next" cluster. They may be addressing your concerns about "The Observer Mission (KSF2) is anticipated to be operational in Q3 2023 following the completion of an orbit raise manoeuvre to compensate for natural orbit degradation.' But they stated the remaining lifespan of the existing clusters as KSF1 - 16 months, KSF2 - 30 months, and KSF3 - 42 months. Given they have a lead in time of 6-12 months to get a cluster built and launched, that could read 4, 18 & 30 months by the time the 5th cluster is launched. Commissioning time ????? But you could easily see them back to only 2 functional clusters if they don't extract the digit and start organising more launches. It will be very hard to see how they intend to build the business model with deteriorating coverage. Unless they have changed tack of course, and are repositioning themselves as a 3rd party data processor.
I am sure this CR will lay open the plans for the future.