I have purchased 1/2" exterior grade plywood to use for a gazebo roof. One day before raising the sheets and afixing them to the rafters it rained. The top sheet warped as it dried out . It was not that bad that I could not use it so I put it up and screwed it down. I roofed on and then left one sheet loose on the roof... It rained again. And that sheet also warped within 3 hours of the rain starting .

My question is , does the plywood loose its strength and or some of its properties by getting wet?Does the Glue that holds the laminate together break down after being wet?