Nope. Creek had is right. since the retirement of shares is the complicated part, the share price ratio will be completed in days (if Joe's timescale of this week is correct on the retirement). Then the 1:1 dividend is a simple forward split. You have 1000 shares at $5, now you have 2000 shares at $2.50.
If we get a 35 - 40% boost in pps when the shares are retired, then we should get a 55 - 60% pps reduction when the dividend is issued. However, as TC has pointed out, we will then have 2 shares for every one share, so the value in your account is about 1.3 - 1.5 times as much as the day before the dividend.