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Epoxy is best but you can use TiteBond III, Gorilla Glue or others to laminate the two halves. You want complete coverage, 100%. This is way too thin...
If you have a Home Depot they Carry Arauco 23/32 plywood. Very Good Stuff!!! Titebond III spread out on both sheets of wood and then clamp em together. An old wood workers sealing method is to mix up equal parts of Boiled Linseed Oil, Mineral Spirits and Polyurethane Varnish and paint the wood till it pools. Really soak it good and pay attention to the the edges a lot. Wipe off any excess after 30 mins then flip and do the other side. let dry for 24 hours. Give it 2-3 coats of Rustoleum Oil Based Paint and that transom will last for decades given proper care and maintenance.