Ok so here's the criteria:

Around 5.5 oz or less

12/100 capacity minimum

Around $300

All ideas welcome really just trying to get an overview of whats out there.

 

I could be wrong, but pretty sure no such reel exist. Closest to that would be a Daiwa Steez, at $500+

Lews team pro mag. 279 bucks (can be found cheaper ) 5.3oz. 120yds 12lb

4 minutes ago, smallie.mike said:

Lews team pro mag. 279 bucks (can be found cheaper ) 5.3oz. 120yds 12lb

Looks like i was wrong

You can get the Shimano Alderbaran for right around $300 all day on the Bay.

Bob

7 hours ago, Bluebasser86 said:

You can get the Shimano Alderbaran for right around $300 all day on the Bay.

$272 shipped.  4.7 ounces BUT the line capacity stated by Shimano is only 80 yards of 12 lb - 20 yards short of the OP's requirement.  

I have 12 lb Sniper on mine and have no capacity complaints...

36 minutes ago, Goose52 said:

I have 12 lb Sniper on mine and have no capacity complaints...

There should be no issue.

 

Check out the Daiwa SS SV. I bought one in the flea market for $200, and within a week grabbed a second for $140. I had about the same criteria as you. I've been casting with the first one, and have been really impressed with it. I've been throwing a weightless 5" senko on a St. Croix LTB 68MXF. I have it spooled with 10# YoZuri Hybrid. Not sure what to do with the second one, but It'll be fun looking for a rod to pair it with. 

Close in your weight, and fit your line cap. Okuma Helios Air is on sale at TW.

Lews team lite speed spool is another option. They can be found for 175 bucks on ebay. 

Quantum Tour MG, 5.4oz 120yd 12lb line for $279.99.

The Revo MGX fits this criteria. It was on sale at the DSG by me for $259

2016 STEEZ SV 

5.8oz

12/110 

$399 retail but it'll come down

 

2013 STEEZ SV 6.3

5.3oz

12/90

$300 used

 

8 hours ago, Jaheff said:

Close in your weight, and fit your line cap. Okuma Helios Air is on sale at TW.

 

Not on sale that I could see at TW.  Of the reels mentioned, this is the only one I have, and I am really impressed with it.  Had to pay tax on mine so it was about $205.  Weight is 5.7 oz. so not too far off.

3 minutes ago, new2BC4bass said:

 

Not on sale that I could see at TW.  Of the reels mentioned, this is the only one I have, and I am really impressed with it.  Had to pay tax on mine so it was about $205.  Weight is 5.7 oz. so not too far off.

My post got edited. i was talking about the unmentionable reel maker...my Air is still going strong.

4 minutes ago, Jaheff said:

My post got edited. i was talking about the unmentionable reel maker...

 

Wow.  My "A" isn't even close.  Your edited reel is only 5 oz.  Now that is a "superlite".