My house has plywood siding that is badly weathered. It is T-111 textured
surface plywood. In a few places the top layer in the plywood is starting
to blister and delaminate. It needs attention very soon. I think I can
tack or staple the blistered layer down using stainless steel staples or
tiny stainless nails, and then brush it clean and paint it. Maybe I should
try to squirt something like caulk under the loose wood before I nail it
down. To do that I would need an applicator that dispenses just tiny bits
of caulk.

Does anyone here have experience repairing plywood siding? I would like to
know your thoughts on the subject.

TIA Bill S.