How did the Waakzaamheid founder from a lucky shot?

So I know that the lucky shot from the stern chaser cuts through the fore mast but how does that cause the Waakzaamheid to founder?

Did the whole mast get taken down? What are the mechanics of that causing it to founder? I assume the huge swells of the roaring 40s has a lot to do with it and that this wouldn't happen in calmer seas?

I've read through 9 of the books so far and I still have the nautical knowledge of our dear Maturin.