Will an ActiveX control wait for any code in an event handler to finish executing before processing the code after the RaiseEvent call?

Example:
VB Code:
  1. 'In the ActiveX control...
  2.    MsgBox "1"
  3.    RaiseEvent Call("2")
  4.    MsgBox "3"
  5.    '...rest of code
  6.  
  7. 'In the calling application
  8. Public Sub MyControl_Call(Msg As String)
  9.    MsgBox Msg
  10. End Sub

Will I get 1,2,3?