So what does Cyanogen Inc shutting down mean for CyanogenMod and similar ROMs?

So Cyanogen Inc (cyngn), known for their support for their support for CyanogenMod and their efforts to integrate Cyanogen OS into devices such as the OnePlus One, Alcatel POP Mirage, and several other devices . Cyanogen Inc just recently announced that they are shutting down their services . What does this mean for CyanogenMod, Cyanogen OS, and the devices which originally shipped with Cyanogen OS? Will they no longer receive OTA updates?