If you have all your rigging and through hulls bonded together with correctly sized wire, AND you're lucky

, the discharge will go out one of the through hulls or the propshaft without blowing out enough chunks of fiberglass from the hull to sink the boat.
Disclaimer: I've never had this happen, however, it happened to a dockmate's Tartan 27. The boat survived but there were chunks missing around a through hull.