We consider the Bose condensation of bosonic particles with spin 1/2. The condensation is driven by an external magnetic field. Our work is motivated by ideas of quantum critical deconfinement and bosonic spinons in spin liquid states. We show that both the nature of the novel Bose condensate and the excitation spectrum are fundamentally different from that in the usual integer spin case. We predict two massive ("Higgs") excitations and two massless Goldstone excitations. One of the Goldstone excitations has a linear excitation spectrum and another has a quadratic spectrum. This implies that the Bose condensate does not support superfluidity, the Landau criterion is essentially violated. We formulate a "smoking gun" criterion for searches of the novel Bose condensation.